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12805
Decline in prices within manufacturing
statistikk
2009-03-10T10:00:00.000Z
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
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Producer price index, 15 February 2009

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Decline in prices within manufacturing

The producer price index fell 2. 3 per cent from January to February 2009. Prices within manufacturing declined 0.3 per cent in total, although the prices within manufacturing in the home market rose.

Price development for some groups. 2000=100

The producer price index fell 2.3 per cent from January to February 2009. An important contribution to this fall was a 3. 5 per cent decline in prices within extraction of oil and natural gas. Prices of electricity fell 12.6 per cent.

Within manufacturing, prices were 0.3 per cent lower in February than in January. Prices of refined petroleum products decreased 0.4 per cent, while basic metal prices sank 2.4 per cent from January to February. Here, prices of non-ferrous metals had 1 per cent lower prices in February than in January, but also other basic metals experienced declining prices.

Food products and machinery and equipment were among the groups of products that had rising prices. Within these two groups the prices increased 1.2 and 1.1 per cent respectively.

Prices within manufacturing fell in total from January to February. However, prices within manufacturing on the home market rose 0.9 per cent during this period. Several groups of products had a stronger price development in the home market than in the export and home markets in total, including chemical and pharmaceutical products and food products.

Twelve-month change: 0.2 per cent increase

The twelve-month growth in the producer price index was 0.2 per cent in February 2009, down from 3.9 per cent in January. The twelve-month growth in prices within extraction of oil and natural gas was 2.2 per cent, while prices of electricity rose 9.1 per cent from February 2008 to February 2009. There was a 2.2 per cent decline in prices within manufacturing during this period. Refined petroleum products and basic metals had the largest decline, prices here fell 26.9 and 11 per cent respectively.

Important announcement: New classification implemented

As of January 2009, a new version of Eurostat’s industry classification, NACE, was implemented. The producer price index (PPI) and the commodity price index for the industrial sector (VPPI) are affected by the change of nomenclature from the publication of the January 2009 index. Click here to read more about the implications for users, calculation and dissemination . Some series according to the new standard have been recalculated also for previous periods for the release of the February index. Users are welcome to refer enquiries about the transition between nomenclatures by e-mail to Espen.Kristiansen@ssb.no or by telephone +47 21 09 45 84.

Producer price index. 2000=100
  February 2009 Changes, per cent
  January 2009-
February 2009 		February 2008-
February 2009
Total index  166.0 -2.3 0.2
       
Extraction of oil and natural gas  185.1 -3.5 2.2
Manufacturing, mining and quarrying  130.6 -0.3 -2.0
Electricity, gas and steam supply  282.5 -12.6 9.1
       
Main industrial groupings      
Intermediate goods  130.9 1.1 0.0
Investment goods  125.6 0.4 7.4
Consumer goods  121.9 0.8 5.4
Energy goods  192.7 -3.5 -1.5

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