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12732
Slight decrease in producer prices
statistikk
2000-08-10T10:00:00.000Z
Prices and price indices;National accounts and business cycles;Energy and manufacturing
en
ppi, Producer price index, price trends, inflation, domestic market, export market, economic indicator, intermediate goods, energy goods, consumables, capital goods, metal-working industry, food industry, oil refining, machine industry, mining, metal prices (for example gold, aluminium, copper)Producer and wholesale price indices, Energy , Oil and gas , Business cycles , Manufacturing, mining and quarrying , National accounts and business cycles, Prices and price indices, Energy and manufacturing
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Producer price index, 15 July 2000

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Slight decrease in producer prices

The producer price index fell by 0.1 per cent from June to July. The decline came in the group oil extraction, mining and quarrying, while manufacturing prices showed a small increase. The 12-month rate (July 1999 - July 2000) went down from 8.3 to 6.4 per cent from June to July.

The decrease in the group oil extraction, mining and quarrying was mainly due to a decline in the price of crude oil. According to the London Spot Markets the average price of Brent Blend went down by more than 2 per cent (measured in NOK) from June to July. With that, the index for this group fell by one percent. Because the prices in this group showed a large increase in the same period last year, the 12-month rate fell from 45.7 per cent in June to 25.6 in July.

Small increase in manufacturing prices

The prices in the group manufacture of food, beverages and tobacco rose by 0.2 per cent. This can mainly be attributed to an increase in prices of food, particularly to higher prices of meat and meat products. There has also been an increase in the group manufacture of basic metals. The index for this group went up by 0.8 per cent, because of higher export prices. The group manufacture of fabricated metal products, machinery and equipment showed an increase of 0.4 per cent.

The only group with a price decline worth mentioning is the group manufacture of paper and paper products, printing and publishing. Here, the prices have fallen by 0.9 per cent from June to July, because of lower export prices. In the other groups there were only minor or no changes. The overall increase in manufacturing prices was 0.1 per cent. Despite this increase, the 12-month rate went down from 5.1 per cent in June, to 4.8 per cent in July.

Producer price index. 1981=100
    Changes, per cent
  July
2000 		June 2000-
July 2000 		July 1999-
July 2000 		January-July 1999-
January-July 2000
Total index 178,7 -0,1 6,4 7,5
Oil extraction, mining and quarrying 136,4 -1,0 25,6 42,9
Manufacturing 182,9 0,1 4,8 4,7
Manufacture of food, beverages and tobacco 205,7 0,2 1,1 -
Manufacture of textiles, wearing apparel, leather and leather products 160,4 0,1 0,9 0,6
Manufacture of wood and wood products 190,4 -0,1 2,6 2,3
Manufacture of paper and paper products, printing and publishing 209,5 -0,9 3,4 4,1
Manufacture of chemicals and chemical petroleum, coal, rubber and plastic products 152,0 - 16,1 18,5
Manufacture of mineral products 218,4 - 1,3 1,4
Manufacture of basic metals 146,0 0,8 9,8 9,4
Manufacture of fabricated metal products, machinery and equipment 192,5 0,4 2,1 1,5