12830_not-searchable
/en/priser-og-prisindekser/statistikker/ppi/arkiv
12830
Increase in manufacturing prices
statistikk
2008-03-10T10:00:00.000Z
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
false

Producer price index, 15 February 2008

Content

Published:

This is an archived release.

Go to latest release

Increase in manufacturing prices

Several manufacturing industries saw relatively high price increases from January to February. The over all producer price index rose by 1.3 per cent.

;>Price development for selected product groups. 2000=100

Following two months of relatively small changes, the manufacturing industry saw prices rise from January to February. For the manufacturing industry as a whole, the increase in prices was 1.9 per cent. Several industries experienced a relatively large price growth, leaving the impression of a broad upward adjustment of prices in Norwegian manufacturing.

Prices of food products rose by 1.8 per cent from January to February. The largest one-month increase for this industry in more than ten years reflects higher prices of meat, fish, vegetables, oils, dairy products and grain products. In particular, prices of oils, vegetables and dairy products rose sharply from January to February. The increase in prices is strong even when we take into account that food prices often increase in February.

Several other manufacturing industries also experienced a relatively strong increase in prices from January to February. The indices for wood products, pulp and paper, refined petroleum products, chemical products, machinery and metals increased by between 1.6 and 3.4 per cent.

Electrical and optical equipment and electricity partly offset the increase in the overall index. With a mild February, prices of electricity fell by 15.6 per cent. Although prices of electrical and optical equipment continued a downward, the 2.1 per cent decrease from January to February is relatively strong.

The most influential single price in the Norwegian producer price index is the price of crude oil. The average price of oil (Brent Blend, in NOK) increased by 3.1 per cent from January to February, contributing to the overall rise in the index.

Twelve-month change: 20.2 per cent

The total producer price index was 20.2 per cent higher in February 2008 than in the corresponding month of 2007. The main reason for the strong increase was found in the market for energy goods. Prices of both oil and electricity were considerably higher in February 2008 than twelve months earlier, with increases of 45.0 per cent (Brent Blend) and 31.6 per cent (spot prices at Nord Pool), respectively.

Prices of food products were 3.5 per cent higher in February 2008 compared with the corresponding month of 2007. Four industries experienced falling prices over these twelve months; the pulp and paper, rubber and plastic, metals and electrical and optical equipment industries.

Producer price index. 2000=100
  February 2008 Changes, per cent
  January 2008-
February 2008 		February 2007-
February 2008
Total index  155.5 1.3 20.2
       
Oil and gas extraction  185.1 1.9 33.5
Manufacturing, mining and quarrying  133.5 1.9 7.5
Electricity, gas and steam supply  267.7 -15.6 31.9
       
Main industrial groupings      
Intermediate goods  127.3 2.0 0.3
Capitals goods  117.2 0.1 2.5
Consumer goods  115.8 1.7 3.1
Energy goods  188.8 1.2 34.1

For information on the commodity price index for the industrial sectors, see http://www.ssb.no/vppi