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PPI falls 0.7 per cent
statistikk
2014-09-10T10:00:00.000Z
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 2014

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PPI falls 0.7 per cent

The producer price index for oil and gas, manufacturing, mining and electricity (PPI) decreased by 0.7 per cent from July to August. Lower prices of crude oil and natural gas caused the decrease in the PPI. From August 2013 to August 2014, the PPI fell by 3.3 per cent.

Producer price index. 2000=100Published 10 September 2014
Per centIndexWeights1
August 2014 / July 2014August 2014 / August 2013August 2014
1The weights are updated annually, and are valid for the entire year.
Industrial Classification
Extraction, mining, manufacturing and electricity-0.7-3.3241.91 000.0
Extraction and related services-2.6-9.3353.5479.1
Mining and quarrying1.63.6173.911.5
Manufacturing0.42.9163.5463.0
Food, beverages and tobacco0.33.8157.098.8
Refined petroleum, chemicals, pharmaceuticals0.40.7222.4135.4
Basic metals0.612.9176.336.8
Machinery and equipment0.22.6153.742.0
Electricity, gas and steam5.9-7.1230.646.4

Source: Statistics Norway

The PPI was 241.9 (with 2000=100) in August, which is 0.7 per cent lower than in July. The main reason behind the decline was a 3.0 per cent decline in prices of crude oil and natural gas. Prices of crude oil (Brent Blend, measured in NOK) dropped by 4.4 per cent from July to August.

Slight price increase in Norwegian manufacturing

Prices within manufacturing increased by 0.4 per cent from July to August. The largest price increase was registered within production of basic chemicals, which rose by 4.2 per cent. Other manufacturing industries with price increases were basic metals, computer and electrical equipment together with food products. The price increases in these industries were offset by lower prices in refined petroleum products together with paper and paper products.

Higher electricity prices, which rose by 5.9 per cent, were the most important factor in curbing the decline in the PPI.

Twelve-month rate – PPI down 3.3 per cent

The PPI decreased by 3.3 per cent from August 2013 to August 2014. The index for extraction of oil and natural gas contributed the most, with a 12.0 per cent decline. Electricity prices also contributed with a price decrease of 7.1 per cent from August 2013 to August 2014. Prices within basic metals and food products, which grew 12.9 and 3.9 per cent respectively, curbed the decrease in the PPI.