Higher prices on energy goods

Published:

10 October 2017

The producer price index (PPI) rose by 2.9 per cent from August to September. This was mainly caused by the price development on energy goods, which as a whole went up 7.8 per cent. Crude oil, natural gas, electricity and refined petroleum products all increased in prices.

Full set of figures
Producer price index

Series archive
Producer price index (archive)

The price of crude oil (Brent Blend) rose for the third month in a row and has risen over 10 per cent since June, measured in Norwegian Kroner. The price of oil also affects the prices of refined petroleum which went up for the second month in a row and over 10 per cent only from August to September.

Figure 1. Price indices. 2013=100

	PPI energy goods	PPI total	PPI minus energy goods
Jan. 2013	98.1	98.3	98.6
Feb. 2013	99	98.8	98.6
Mar. 2013	100	99.7	99.4
Apr. 2013	100.5	100	99.4
May 2013	96.3	97.8	99.5
Jun. 2013	96.3	97.6	99.3
Jul. 2013	100.1	100	99.9
Aug. 2013	101.2	101	100.8
Sept. 2013	102.2	101.5	100.6
Oct. 2013	100.7	100.9	101.1
Nov.2013	101.5	101.4	101.3
Dec. 2013	104.2	103	101.6
Jan. 2014	104.2	103.5	102.6
Feb. 2014	102.8	102.8	102.7
Mar. 2014	97.4	99.8	102.6
Apr. 2014	96.2	99.3	102.9
May 2014	94.5	98.4	103
Jun. 2014	95.3	98.8	103
Jul. 2014	93.6	98.3	103.9
Aug. 2014	91.8	97.6	104.4
Sept. 2014	91.6	97.6	104.7
Oct. 2014	91	97.4	105
Nov.2014	85.5	94.7	105.6
Dec. 2014	85	94.9	106.7
Jan. 2015	76.5	90.6	107.9
Feb. 2015	79.8	92.6	108
Mar. 2015	82.1	93.8	107.7
Apr. 2015	82.4	93.8	107.4
May 2015	82.7	93.7	106.9
Jun. 2015	83.1	94	107
Jul. 2015	79.1	91.8	107.2
Aug. 2015	72.2	87.9	107.4
Sept. 2015	71.9	87.7	107.3
Oct. 2015	72.8	88.2	107.3
Nov.2015	72.8	88.6	108.2
Dec. 2015	65.9	84.7	108.2
Jan. 2016	59.7	80.9	107.9
Feb. 2016	56	78.8	108
Mars.2016	57.7	79.7	108
Apr. 2016	58.8	80.4	107.9
May 2016	62.4	82.6	108
Jun. 2016	66.5	84.9	107.9
Jul. 2016	67	85.2	108
Aug. 2016	64.4	83.7	108.1
Sept. 2016	62.9	82.4	107.1
Oct. 2016	66.6	84.3	106.3
Nov.2016	70.2	86.4	106.3
Dec. 2016	77.4	90.8	106.7
Jan. 2017	77.8	91.1	107
Feb. 2017	81.7	93.6	108.1
Mar. 2017	79.7	92.6	108.1
Apr. 2017	75.2	90.7	108.7
May 2017	73.3	89.9	109.1
Jun. 2017	69.2	87.6	108.6
Jul. 2017	67.4	86.7	108.7
Aug. 2017	68.3	87.1	108.5
Sept. 2017	73.7	89.6	108.2

Lower prices on food products

The prices on food products went down for the second month in a row from August to September. The most important contributor for the price decrease was lower prices on processed fish, as were the case last month. Processed fish is an important group within food products. Higher prices on fish in recent years, especially salmon, have contributed to pull up the overall price development on food products as a whole.

Figure 2. Price indices. 2011=100

	Food products total	Processed fish
Jan. 2011	97.7	98.2
Feb. 2011	99.1	99.6
Mar. 2011	99.3	101.4
Apr. 2011	99.4	100.1
Maiy2011	100	101.7
Jun. 2011	100.2	101.2
Jul. 2011	100.3	100.1
Aug. 2011	100.7	100.1
Sept. 2011	100.8	98.9
Oct. 2011	100.6	99.5
Nov.2011	101	99.5
Dec. 2011	100.9	99.7
Jan. 2012	101.1	99.4
Feb. 2012	101.2	97.2
Mar. 2012	101.1	96
Apr. 2012	101.1	96.1
May 2012	101.5	97.7
Jun. 2012	101.7	98.4
Jul. 2012	102.7	97.9
Aug. 2012	101.7	95.1
Sept. 2012	101.2	94.4
Oct. 2012	101.4	94.2
Nov.2012	101.6	92.5
Dec. 2012	101.7	93.5
Jan. 2013	102.1	93
Feb. 2013	103.3	95.5
Mar. 2013	102.8	94.8
Apr. 2013	103.6	97.1
May 2013	104.1	97.4
Jun. 2013	104.4	100
Jul. 2013	105.7	100.6
Aug. 2013	106.7	103.3
Sept. 2013	106	101.4
Oct. 2013	106	102
Nov.2013	106.9	104.2
Dec. 2013	107.2	106
Jan. 2014	107.6	109
Feb. 2014	108.9	110.3
Mar. 2014	108.8	109.6
Apr. 2014	108.9	110.1
May 2014	109.7	112.2
Jun. 2014	109.5	109.7
Jul. 2014	110.6	111.2
Aug. 2014	110.8	111.7
Sept. 2014	110.8	110.6
Oct. 2014	110.7	109.2
Nov.2014	112.4	115.3
Dec. 2014	113.9	120.3
Jan. 2015	115.2	123.6
Feb. 2015	116.8	126.2
Mar. 2015	117.2	126.5
Apr. 2015	116.9	123.7
May 2015	117.3	122.8
Jun. 2015	116.4	120.1
Jul. 2015	118.3	124.2
Aug. 2015	118.7	125.7
Sept. 2015	118.3	124.6
Oct. 2015	118.5	123.9
Nov.2015	119.5	126.8
Dec. 2015	120	127.7
Jan. 2016	121.9	132.9
Feb. 2016	122.3	131.9
Mars.2016	123.5	136.7
Apr. 2016	124.1	138.4
May 2016	124.8	140.4
Jun. 2016	124.9	139.7
Jul. 2016	126.9	147
Aug. 2016	126.1	143.6
Sept. 2016	124.9	141.2
Oct. 2016	126.2	146.8
Nov.2016	126.6	148.6
Dec. 2016	127	149.1
Jan. 2017	125.6	146
Feb. 2017	127.4	152.8
Mar. 2017	128.6	157.4
Apr. 2017	128.4	155.7
May 2017	129	159.8
Jun. 2017	129.3	162.5
Jul. 2017	129.9	163.4
Aug. 2017	128.5	157.4
Sept. 2017	127.6	154.6