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12811
Strong decrease in producer prices
statistikk
2008-12-10T10:00:00.000Z
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 November 2008

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Strong decrease in producer prices

The producer price index (PPI) fell by 5.2 per cent from October to November. This is the fourth month in a row with falling producer prices. The decrease is mainly caused by continued price fall in crude oil, refined petroleum products and basic metals.

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

The producer price index (PPI) fell by 5.2 per cent from last month. The index of oil and gas extraction fell by 6.8 per cent from October. The price of crude oil Brent Blend (in NOK) for November is nearly half of the price measured in June 2008. The price of Brent blend is now NOK 362. The increase in the exchange rate of the US dollar from October to November has reduced the effect of the price drop of crude oil in NOK. The price of gas, measured in NOK, increased from last month and is caused by higher exchange rate of the US dollar.

Fall in manufacturing prices is due to lower prices of refined petroleum products and basic metals. Within the latter group lower prices of non-ferrous metals had the strongest influence. For fabricated metal products the price fell compared to last month. Change in prices of other manufacturing products were moderate, with exception of wood and wood products that rose by 6.2 per cent.

The price of electricity decreased by 6.8 per cent from October to November.

Twelve month change: up 11.9 per cent

Despite the fall in prices within oil and gas extraction, refined petroleum products, electricity and basic metals, the total index has increased by 11.9 per cent from November 2007 to November 2008.

The twelve month change is positive mainly because of higher prices of oil and gas extraction and electricity, gas and steam supply.

The prices within manufacturing, mining and quarrying increased by 1.6 per cent from November 2007 to November 2008. The increase is mainly caused by higher prices at the home market.

Producer price index. 2000=100
  November 2008 Changes, per cent
  October 2008-
November 2008 		November 2007-
November 2008
Total index  167.3 -5.2 11.9
Oil and gas extraction  211.2 -6.8 22.5
Manufacturing, mining and quarrying  132.7 -3.3 1.6
Electricity, gas and steam supply  392.6 -6.8 24.7
       
Main industrial groupings      
Intermediate goods  131.5 -0.7 5.6
Capitals goods  120.9 0.6 5.3
Consumer goods  121.3 1.4 6.8
Energy goods  208.3 -8.4 16.2

For information on the commodity price index for the industrial sectors .