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Oil Prices Still Rising
statistikk
1999-10-11T10:00:00.000Z
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 September 1999

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Oil Prices Still Rising

The continued rise in the prices of crude oil and oil related products are the main reason why the producer price index climbs another 0.8 per cent from August to September. An increase in the metal prices also contributes. The 12-month rate rises from 4.0 to 4.5 per cent.

The average price of Brent Blend in September was close to 22.5 USD. This is the highest average since January 1997, and represents an increase of more than 11 per cent since August. Compared with September last year, the increase was nearly 70 per cent. This causes an increase in the group oil extraction and quarrying of 4.8 per cent. At the same time, the 12-month rate in this group increases from 28.5 per cent to 31.3 per cent.

Rise in manufacturing prices

The two major contributors are the groups manufacture of chemicals and chemical petroleum, coal, rubber and plastic products, and manufacture of basic metals. The first group has experienced an increase of 0.8 per cent, after climbing 2.3 per cent last month. The metal index rose 2.3 per cent, an increase that was primarily due to higher export prices of non-ferrous metals. Even the London Metal Exchange showed an increase in the prices of aluminium, nickel, lead, copper, and zinc.

There were also movements within the group manufacture of food, beverages and tobacco. The prices of beverages rose, while the prices of other articles of food went down. Together this produced a minor increase of 0.1 per cent for this group.

In total the manufacturing prices climbed 0.4 per cent slightly down compared to the two preceding months. The 12-month rate increased from 2.0 to 2.3 per cent.

 

Producer price index. 1981=100
 
 September 1999Changes, per cent
August 1999-
September 1999		September 1998-
September 1999		January-September 1998-
January-September 1999
 
Total index170,30,84,52,1
Oil extraction, mining and quarrying115,44,831,312,0
Manufacturing176,20,42,31,4
Manufacture of food, beverages and tobacco203,20,10,51,5
Manufacture of textiles, wearing apparel, leather and leather products159,00,10,71,0
Manufacture of wood and wood products186,7-0,1-0,4-0,5
Manufacture of paper and paper products, printing and publishing202,40,23,02,6
Manufacture of chemicals and chemical petroleum, coal, rubber and plastic products135,00,88,52,5
Manufacture of mineral products215,4-1,82,0
Manufacture of basic metals138,32,31,6-1,6
Manufacture of fabricated metal products, machinery and equipment189,30,11,71,8