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12793
Increase in manufacturing prices
statistikk
2009-09-10T10:00:00.000Z
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 August 2009

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Increase in manufacturing prices

Higher prices in most manufacturing industries caused the Norwegian producer price index to rise from July to August. Refined petroleum products and basic metals experienced the strongest increase.

Price development for selected product groups. 2000=100

Prices within manufacturing, mining and quarrying increased by 2.2 per cent from July to August. This was caused by higher prices in most manufacturing industries. In particular, refined petroleum products and basic metals experienced strong increases, with 6.3 and 5.7 per cent higher prices respectively. Prices of basic metals, which decreased early this year, have grown by 13.8 per cent since April, with last month’s growth being the strongest.

One exception to the growth was chemical and pharmaceutical products, where prices declined 1.9 per cent. This decline reduced the price growth for manufacturing as a whole.

Higher prices in both domestic and export markets

Manufacturing experienced increasing prices in both the domestic and the export markets. While prices in the domestic market grew by 0.2 per cent, the growth was stronger in the export market. Basic metals made up the most important contribution in the domestic market, while refined petroleum products were most important in the export market.

The producer price index for extraction, mining, manufacturing and electricity increased by 4.9 per cent from July to August. The increase in the price of crude oil together with higher manufacturing prices made up the most important contributions to this increase. 4.7 per cent lower prices of electricity contributed to moderate the growth in the producer price index.

Twelve month change: Producer prices down 1.2 per cent

The producer price index decreased by 1.2 per cent from August 2008 to August 2009. The main reason for this decline was 35.5 per cent lower electricity prices. These experienced a relatively sharp increase last autumn, but after their peak in September prices fell continually until May this year.

In manufacturing, where prices increased by 1.4 per cent in this twelve month period, most industries show higher prices. Two important contributions to this growth come from food products and paper and paper products, where prices increased by 5.7 and 12.3 per cent respectively. Lower prices of basic metals and refined petroleum products reduced the increase for manufacturing in this twelve month period.

Producer price index. 2000=100
  August 2009 Changes, per cent
  July 2009-August 2009 August 2008-August 2009
Total index  185.1 4.9 -1.2
       
Extraction of oil and natural gas  229.6 8.0 -0.9
Manufacturing, mining and quarrying  141.5 2.2 1.4
Electricity, gas and steam supply  236.6 -4.7 -35.5
       
Main industrial groupings      
Intermediate goods  131.9 1.5 -1.8
Investment goods  127.3 0.2 7.9
Consumer goods  123.6 -0.1 5.0
Energy goods  227.5 7.2 -3.7

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