An error has occurred in the compilation of the price index for electricity sold on the domestic market for the months February to November 2025. The error has been amended and corrected indices were published with the release of the index for December 2025 on 9 January 2026. The correct indices are found in the Statbank tables. The error has affected the following series in PPI: SNN 35 Electricity, gas and steam; PPI Total; and Energy goods. Indices for the domestic market as well as domestic and export markets combined are affected, while indices for the export market separately are not. For PIF, the error has affected the following series: SITC35 Electric current; SITC3 Mineral fuels, lubricants and related materials; and SITCT All SITC groups. Indices for the domestic market as well as domestic and import markets combined are affected, while indices for the import market separately are not. In case of questions, contact head of division Espen Kristiansen: esk@ssb.no
The Producer Price Index (PPI) measures price developments in manufacturing, extraction of oil and gas, electricity supply and mining, both in terms of sales to the Norwegian market and abroad. In this article, we mainly look at the Annual growth: General growth in the value of a variable in a calendar year compared to the value of the same variable the previous year. Annual growth is calculated by taking the ratio between the average of the monthly indices for the current year and the corresponding average for the previous year. in 2025 for some industries that are important in Norwegian production. Overall, Norwegian producer prices increased by 0.6 percent from 2024 to 2025.
The annual growth rate should not be confused with the twelve-month change published monthly by Statistics Norway (SSB). The twelve-month change in the PPI indicates the growth in the PPI from a given month one year to the same month the following year. Annual growth compares price indices for all 12 months of a year with the 12 months of the previous year.
Several industrial sectors have experienced a flattening in price growth
Throughout 2025, the twelve-month growth rate of industrial goods produced and sold in Norway has been relatively stable, with price growth of between 2 and 4 percent. Price growth for exported industrial goods varied to a greater extent. In the first three months of 2025, the twelve-month growth rate on the export market was around 10 percent. From April onwards, the growth in export prices decreased, and from May to the end of 2025, the twelve-month growth rate on the export market was lower than for goods sold domestically. From 2024 to 2025, the annual growth rate for exported goods ended at 2.6 percent, while prices on the domestic market increased by 2.9 percent.
– Although price growth for 2025 is roughly the same for goods sold domestically and abroad, price developments in the two markets were different throughout the year. Price growth in the export market peaked early in the year and has since declined, while growth in the domestic market has been fairly stable throughout 2025, says Espen Krisitansen, head of section at Statistics Norway.
The Norwegian manufacturing consists of several industries. Figure 1 shows the price growth in some of the largest industries for the domestic and export markets combined. The price growth within refined petroleum products stands out slightly, where prices fell from high levels, with around 11 percent decline from 2024 to 2025.
Other important industrial sectors are the basic metal industry as well as the chemical and pharmaceutical industry, where prices have increased slightly again in the last two years after a drop in 2023. The price growth on basic metals as well as the chemical and pharmaceutical industry was 2.2 and 5.6 percent respectively from 2024 to 2025, not unlike the growth rates from 2023 to 2024. Within the chemical and pharmaceutical industry, it is chemical products in particular that drove up the price growth in 2025.
Both basic metals and chemical industry are important export industries and are largely affected by international commodity prices. The price movement was quite similarly on the domestic and export markets from 2024 to 2025. Export prices on chemical products in 2025 are back to the price level seen in the peak year of 2022, whereas prices on exported metals were just below the 2022 level.
Strong price growth on exported seafood
In the food industry, there was a price increase of 4.2 percent overall from 2024 to 2025, almost the same as from 2023 to 2024. It is worth noting that the annual growth in this industry was between 1 and 6 percent in the 2000s. The years 2022 and 2023 were exceptions, with an annual growth of 17.5 and 12.0 percent, respectively.
– The price growth in the food industry was at a relatively normal level in 2025 compared to the rest of the 2000s. At the same time, we saw a relatively strong price increase for seafood in 2025, says Kristiansen.
Continued strong price growth for fish and fish products pulled up annual growth in the food industry from 2024 to 2025. Prices for exported seafood increased by 15.5 percent in 2025, compared to an increase of 9.0 percent the previous year. The price of fish sold to the Norwegian market had a slightly more moderate price increase of 3.5 percent last year. After the peak year of 2022, export prices for seafood have continued to rise, while several other export industries have had a decline in export prices over the past three years. Animal feed for livestock and farmed fish was among the food products that pulled down price growth in 2025.
Small price decrease on energy goods in 2025
Energy goods in the PPI consist of extraction of crude oil and natural gas, refined petroleum products and electricity supply. Energy prices had an overall annual decline of 2.6 percent in 2025. In comparison, the price decline in 2024 was 6.7 percent and from the peak year of 2022, prices fell by as much as 35 percent to 2023.
Energy supply includes the production, transmission and distribution of electricity. The price of electricity supply rose by 10.8 percent in 2025.
Prices within extraction of crude oil and natural gas fell by 3.9 percent in 2025, compared to a reduction of 6.4 percent the previous year.
