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12543
New figures for July
statistikk
2004-08-10T10:00:00.000Z
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 2004

Content

Published:

This is an archived release.

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New figures for July

Revised indices are released due to a deviation during production of figures for July. Change will only occur for indices including both the domestic and export marked, as only export prices are updated.

Published 8 September 2004, at 1 p.m.

Most groups show changes. The revised total index shows a 4.6 per cent rise from June to July - while the earlier published only went up 4.3 per cent. The largest adjustment is for chemicals and chemical products. New figures for this industry show a 1.5 per cent increase in prices from June to July, while the earlier published showed a 4.4 decline.

Producer price index. 2000=100. (New table was
released 8 September 2004)
  July 2004 Changes, per cent
      June 2004-
July 2004 		    July 2003-
July 2004
Total index  106.1 4.6 14.0
Oil and gas extraction  106.4 9.5 23.7
Manufacturing, mining and quarrying  106.9 1.4 7.2
Electricity, gas and steam supply  218.9 -5.6 3.4
Commodity price index for the industrial sectors. 2000=100.
(New table was released 8 September 2004)
  July 2004 Changes, per cent
         June 2004-
July 2004 		       July 2003-
July 2004
Total index  110.8 4.6 13.6
Oil and gas extraction  106.4 9.5 23.7
Manufacturing, mining and quarrying  106.8 1.4 7.3
Electricity, gas and steam supply  211.8 -5.6 3.4

Original text, published 10 August 2004

Crude oil prices approaching 2000 record level

The total index went up by 4.3 per cent from June to July. Prices of crude oil increased by 11.6 per cent and were only 11.4 per cent below the peak month of September 2000. Falling electricity prices counteracted the increase in the total index.

Within oil and gas extraction prices went up by 9.5 per cent from June to July. According to figures from the London Spot Market (LSM) prices of crude oil (Brent Blend, measured in NOK) went up by 11.6 per cent in the period and were the highest since November 2000. Uncertainty concerning Russia's oil production and lower petrol supply in Europe are two main factors behind the latest development.

Manufacturing prices rose by 1.0 per cent from June to July, mainly due to a 7.1 per cent price increase of refined petroleum products. According to the LSM, prices of unleaded gasoline and heavy fuel oil rose by 14.1 and 6.1 per cent respectively.

Non-ferrous metals went up by 3.2 per cent, while overall metal prices increased by 4.0 per cent. Food products went up by 0.1 per cent this month.

Prices of electricity fell by 5.6 per cent from June to July. According to the main industrial groupings prices of energy goods went up by 8.2 per cent and consumer goods increased by 0.1 per cent.

The 12-month rate: 6.9 per cent increase in manufacturing prices

Compared with July last year manufacturing prices went up by 6.9 per cent, mainly due to the 26.3 and 23.8 per cent increase in basic metals and refined petroleum products respectively.

The total index was 13.6 per cent higher than in July 2003. Crude oil prices (Brent Blend, measured in NOK) have increased by approximately 30 per cent in this period, while electricity prices have risen by 3.4 per cent. According to the main industrial groupings energy goods have increased by 22.1 per cent and consumer goods 1.1 per cent.

Commodity price index for industrial sectors

As announced previously the articles for the Producer price index and the Commodity price index for the industrial sectors are now coordinated. The web pages for both surveys will remain the same for the time being - www.ssb.no/ppi_en and www.ssb.no/vppi_en.

The monthly changes of the producer price index and the commodity price index may show minor deviations due to different index levels and rounding. No extra information is added to the commodity price index.