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Oil prices continue to rise
statistikk
2002-05-10T10:00:00.000Z
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 April 2002

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Oil prices continue to rise

Refined petroleum products continue to contribute the most to the increase in manufacturing prices. The crude oil price, represented by Brent Blend, increased almost 30 per cent the last four months.

Manufacturing showed a modest rise of 0.5 per cent from March to April. This was much due to a 5 per cent increase in prices of refined oil products. At London Spot Markets (LSM) prices of heavy fuel oil and unleaded gasoline increased by about 17 and 10 per cent, respectively. The rise in manufacturing was partially offset by decreased prices of basic metals, pulp, paper and paper products, and furniture and other manufacturing.

With an increase of 3.6 per cent, energy goods showed the strongest price rise among the main industrial groupings. This development was counteracted by lower prices of electricity.

12-month rate, April 2001 to April 2002

Manufacturing prices were 2.8 per cent lower in April compared with the corresponding period last year. Major contributions to this development came from the groups pulp, paper and paper products, refined oil products, and basic metals, which all showed a strong price fall over the last twelve months.

Among the main industrial groupings energy goods showed a price decline of nearly 4 per cent, while intermediate goods went down 5.6 per cent.

Development in the 12-month rate

Manufacturing has had negative 12-month rates since August 2001. However, during the three last months the tendency has been positive. In February the 12-month rate was -4.6 per cent, increasing to -3.1 per cent in March and to -2.8 per cent in April. This slight positive tendency may be attributed to the price development for refined oil products, and basic metals. Common for these groups is that the 12-month rate has been improving. Prices are still below last year's level, but the gap is narrowing. Other contributions came from rubber and plastic products, and transport equipment, where the former went from a 12-month rate of -2.1 per cent in February to 0.1 per cent in April.

Among the main industrial groupings energy goods went from -3.9 per cent in March to -3.8 per cent in April, after -16.2 per cent in February. The rate for consumer goods fell from 1.5 per cent last month to 0.9 per cent.

Producer price index. 2000=100
  April 2002 Changes, per cent
  March-April 2002 April 2001-April 2002
Total index 93,59 1,9 -4,7
Oil and gas extraction 90,42 3,9 -2,6
Manufacturing, mining and quarrying 98,85 0,5 -2,8
Electricity, gas and steam supply 152,30 -4,5 -8,1