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Higher prices of basic metals and food
statistikk
2011-03-10T10:00:00.000Z
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 2011

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Higher prices of basic metals and food

The producer price index rose by 1.2 per cent from January to February 2011. Two of the reasons for this were higher prices of metals and food.

Price development for selected industries. 2000=100

The producer price index rose by 1.2 per cent from January to February 2011. A rise in prices within extraction of oil and natural gas and refined petroleum products gave the strongest contribution to the total price growth. Other important reasons for the rise in the PPI this month were higher prices of basic metals and food. On the other hand, there was a price decrease of 5.6 per cent in electricity prices the same period.

Prices of basic metals rose by 3.2 per cent from January to February. Overall, export prices of basic metals had a stronger increase than the metal prices on the domestic market during this period. Non-ferrous metals were an exception, as prices for these metals rose by 4.4 per cent in the domestic market; a stronger price increase than in the export market.

Prices of food products rose by 1.6 per cent in the domestic market. Apart from the price increase within extraction of oil and natural gas, the price development of food products was the most important in explaining the overall price growth in the domestic market from January to February.

Twelve-month change: 21.2 per cent

PPI rose by 21.2 per cent from February 2010 to February 2011. Most industries experienced price growth during these twelve months, but there were also some exceptions.

The industries that gave the strongest contribution to the overall price growth were extraction of oil and natural gas, refined petroleum products, basic metals as well as food beverages and tobacco. Prices of computers, textiles and wearing apparels, as well as beverages, on the other hand, declined from February 2010 to February 2011.

Producer price index. 2000=100
  February 2011 Changes, per cent
  January 2011-February 2011 February 2010-February 2011
Total index  234.1 1.2 21.2
       
Extraction of oil and natural gas  338.0 1.6 38.1
Manufacturing, mining and quarrying  154.3 1.4 9.6
Electricity, gas and steam supply  388.9 -5.6 0.0
       
Main industrial groupings      
Intermediate goods  146.9 1.6 9.9
Investment goods  126.8 0.0 0.8
Consumer goods  130.9 1.1 5.7
Energy goods  327.0 1.3 33.0

For information on the commodity price index for the industrial sectors, see commodity price index for the industrial sector .