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12819
Continued growth in manufacturing prices
statistikk
2008-08-11T10:00:00.000Z
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 2008

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Continued growth in manufacturing prices

The producer price index (PPI) rose by 2.3 per cent from June to July 2008. Prices of natural gas, food and chemicals increased, while the oil price dropped.

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

The producer price index (PPI) was 2.3 per cent higher in July than in June. Following a strong increase in the spring and early summer, the price of oil dropped from June to July. The price of natural gas increased considerably, however, leading to a 3.2 per cent increase in the price index for oil and natural gas.

In manufacturing and mining, prices grew 1.0 per cent from June to July. For this part of the Norwegian economy, July was the ninth consecutive month of price growth. The strongest price increases were seen in the food and chemicals industries, with 2.2 and 2.4 per cent, respectively.

Twelve month change: up 31.9 per cent

Since July 2007 the PPI has increased by a massive 31.9 per cent. The strong growth is mainly caused by higher prices of energy goods. The prices of oil and natural gas have increased by 51.9 per cent over the twelve months from July 2007 to July 2008. Over the same period, the electricity price has jumped 154.3 per cent, while prices of refined petroleum products have grown by 38.3 per cent. The latter prices have contributed to a 9.6 per cent increase in manufacturing prices over the past twelve months. Other industries which saw relatively strong price growth were the food, chemicals and machinery industries. Prices in these industries increased by 5.5, 6.3 and 6.1 per cent, respectively.

Producer price index. 2000=100
July 2008 Changes, per cent
June 2008-July 2008 July 2007-July 2008
Total index  181.9 2.3 31.9
       
Oil and gas extraction  238.4 3.2 51.9
Manufacturing, mining and quarrying  141.2 1.0 9.6
Electricity, gas and steam supply  311.6 10.5  154.3
       
Main industrial groupings      
Intermediate goods  130.1 0.6 3.3
Capitals goods  117.9 0.6 2.2
Consumer goods  117.6 1.5 3.5
Energy goods  240.8 3.2 53.5

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