Higher prices on energy goods

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The producer price index (PPI) rose by 2.9 per cent from August to September. This was mainly caused by the price development on energy goods, which as a whole went up 7.8 per cent. Crude oil, natural gas, electricity and refined petroleum products all increased in prices.

The price of crude oil (Brent Blend) rose for the third month in a row and has risen over 10 per cent since June, measured in Norwegian Kroner. The price of oil also affects the prices of refined petroleum which went up for the second month in a row and over 10 per cent only from August to September.

Figure 1. Price indices. 2013=100
Figure 1. Price indices. 2013=100
PPI energy goods PPI total PPI minus energy goods
Jan. 2013 98.1 98.3 98.6
Feb. 2013 99 98.8 98.6
Mar. 2013 100 99.7 99.4
Apr. 2013 100.5 100 99.4
May 2013 96.3 97.8 99.5
Jun. 2013 96.3 97.6 99.3
Jul. 2013 100.1 100 99.9
Aug. 2013 101.2 101 100.8
Sept. 2013 102.2 101.5 100.6
Oct. 2013 100.7 100.9 101.1
Nov.2013 101.5 101.4 101.3
Dec. 2013 104.2 103 101.6
Jan. 2014 104.2 103.5 102.6
Feb. 2014 102.8 102.8 102.7
Mar. 2014 97.4 99.8 102.6
Apr. 2014 96.2 99.3 102.9
May 2014 94.5 98.4 103
Jun. 2014 95.3 98.8 103
Jul. 2014 93.6 98.3 103.9
Aug. 2014 91.8 97.6 104.4
Sept. 2014 91.6 97.6 104.7
Oct. 2014 91 97.4 105
Nov.2014 85.5 94.7 105.6
Dec. 2014 85 94.9 106.7
Jan. 2015 76.5 90.6 107.9
Feb. 2015 79.8 92.6 108
Mar. 2015 82.1 93.8 107.7
Apr. 2015 82.4 93.8 107.4
May 2015 82.7 93.7 106.9
Jun. 2015 83.1 94 107
Jul. 2015 79.1 91.8 107.2
Aug. 2015 72.2 87.9 107.4
Sept. 2015 71.9 87.7 107.3
Oct. 2015 72.8 88.2 107.3
Nov.2015 72.8 88.6 108.2
Dec. 2015 65.9 84.7 108.2
Jan. 2016 59.7 80.9 107.9
Feb. 2016 56 78.8 108
Mars.2016 57.7 79.7 108
Apr. 2016 58.8 80.4 107.9
May 2016 62.4 82.6 108
Jun. 2016 66.5 84.9 107.9
Jul. 2016 67 85.2 108
Aug. 2016 64.4 83.7 108.1
Sept. 2016 62.9 82.4 107.1
Oct. 2016 66.6 84.3 106.3
Nov.2016 70.2 86.4 106.3
Dec. 2016 77.4 90.8 106.7
Jan. 2017 77.8 91.1 107
Feb. 2017 81.7 93.6 108.1
Mar. 2017 79.7 92.6 108.1
Apr. 2017 75.2 90.7 108.7
May 2017 73.3 89.9 109.1
Jun. 2017 69.2 87.6 108.6
Jul. 2017 67.4 86.7 108.7
Aug. 2017 68.3 87.1 108.5
Sept. 2017 73.7 89.6 108.2

Lower prices on food products

The prices on food products went down for the second month in a row from August to September. The most important contributor for the price decrease was lower prices on processed fish, as were the case last month. Processed fish is an important group within food products. Higher prices on fish in recent years, especially salmon, have contributed to pull up the overall price development on food products as a whole.

Figure 2. Price indices. 2011=100
Figure 2. Price indices. 2011=100
Food products total Processed fish
Jan. 2011 97.7 98.2
Feb. 2011 99.1 99.6
Mar. 2011 99.3 101.4
Apr. 2011 99.4 100.1
Maiy2011 100 101.7
Jun. 2011 100.2 101.2
Jul. 2011 100.3 100.1
Aug. 2011 100.7 100.1
Sept. 2011 100.8 98.9
Oct. 2011 100.6 99.5
Nov.2011 101 99.5
Dec. 2011 100.9 99.7
Jan. 2012 101.1 99.4
Feb. 2012 101.2 97.2
Mar. 2012 101.1 96
Apr. 2012 101.1 96.1
May 2012 101.5 97.7
Jun. 2012 101.7 98.4
Jul. 2012 102.7 97.9
Aug. 2012 101.7 95.1
Sept. 2012 101.2 94.4
Oct. 2012 101.4 94.2
Nov.2012 101.6 92.5
Dec. 2012 101.7 93.5
Jan. 2013 102.1 93
Feb. 2013 103.3 95.5
Mar. 2013 102.8 94.8
Apr. 2013 103.6 97.1
May 2013 104.1 97.4
Jun. 2013 104.4 100
Jul. 2013 105.7 100.6
Aug. 2013 106.7 103.3
Sept. 2013 106 101.4
Oct. 2013 106 102
Nov.2013 106.9 104.2
Dec. 2013 107.2 106
Jan. 2014 107.6 109
Feb. 2014 108.9 110.3
Mar. 2014 108.8 109.6
Apr. 2014 108.9 110.1
May 2014 109.7 112.2
Jun. 2014 109.5 109.7
Jul. 2014 110.6 111.2
Aug. 2014 110.8 111.7
Sept. 2014 110.8 110.6
Oct. 2014 110.7 109.2
Nov.2014 112.4 115.3
Dec. 2014 113.9 120.3
Jan. 2015 115.2 123.6
Feb. 2015 116.8 126.2
Mar. 2015 117.2 126.5
Apr. 2015 116.9 123.7
May 2015 117.3 122.8
Jun. 2015 116.4 120.1
Jul. 2015 118.3 124.2
Aug. 2015 118.7 125.7
Sept. 2015 118.3 124.6
Oct. 2015 118.5 123.9
Nov.2015 119.5 126.8
Dec. 2015 120 127.7
Jan. 2016 121.9 132.9
Feb. 2016 122.3 131.9
Mars.2016 123.5 136.7
Apr. 2016 124.1 138.4
May 2016 124.8 140.4
Jun. 2016 124.9 139.7
Jul. 2016 126.9 147
Aug. 2016 126.1 143.6
Sept. 2016 124.9 141.2
Oct. 2016 126.2 146.8
Nov.2016 126.6 148.6
Dec. 2016 127 149.1
Jan. 2017 125.6 146
Feb. 2017 127.4 152.8
Mar. 2017 128.6 157.4
Apr. 2017 128.4 155.7
May 2017 129 159.8
Jun. 2017 129.3 162.5
Jul. 2017 129.9 163.4
Aug. 2017 128.5 157.4
Sept. 2017 127.6 154.6

 

 

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