Prices on natural gas pulled up the PPI

Published:

10 November 2017

The producer price index (PPI) rose by 2.5 per cent from September to October. The main reason for this was higher prices on natural gas.

Full set of figures
Producer price index

Series archive
Producer price index (archive)

Norwegian natural gas is among other things used for heating throughout the continent. Falling temperatures in Europe due to season can thus be a factor contributing to higher natural gas prices. Prices on natural gas went up by over 15 per cent from September to October. The prices of crude oil and refined petroleum products also went up adding to the increase in the PPI total.

Figure 1. Price indices. 2012=100

	Electricity	Extraction of oil and natural gas
Jan. 2012	114.2	102.8
Feb. 2012	133.7	102.4
Mar. 2012	103.1	107.9
Apr. 2012	103.7	103.2
May 2012	96.5	100
Jun. 2012	89.9	93.2
Jul. 2012	69	97.5
Aug. 2012	81.5	101.5
Sept. 2012	83	97.7
Oct. 2012	101.4	98.2
Nov.2012	103	98.5
Dec. 2012	120.9	97.1
Jan. 2013	118.3	97.7
Feb. 2013	116.4	98.6
Mar. 2013	125.5	98.7
Apr. 2013	128.7	99.8
May 2013	113.2	96.2
Jun. 2013	107.8	96.6
Jul. 2013	108.7	100.3
Aug. 2013	110.1	101.6
Sept. 2013	116.2	101.9
Oct. 2013	119	100
Nov.2013	117.1	101.4
Dec. 2013	111.7	104.9
Jan. 2014	111.7	105.1
Feb. 2014	105	103.8
Mar. 2014	96.9	97.9
Apr. 2014	91.7	97
May 2014	89.9	95
Jun. 2014	87.5	95.8
Jul. 2014	96.7	92.2
Aug. 2014	102.4	89.4
Sept. 2014	108.7	89.6
Oct. 2014	101.4	89.9
Nov.2014	102	83.5
Dec. 2014	110.4	84.1
Jan. 2015	106.9	75.9
Feb. 2015	102.6	80
Mar. 2015	95	82.4
Apr. 2015	93.4	82.4
May 2015	87	83.1
Jun. 2015	72.3	84.8
Jul. 2015	62	80.6
Aug. 2015	69.6	72
Sept. 2015	77.9	72.2
Oct. 2015	91.1	71.8
Nov.2015	100	71.3
Dec. 2015	89.8	64
Jan. 2016	122.7	54.3
Feb. 2016	96.2	52.7
Mars.2016	101.2	54.2
Apr. 2016	101	54.8
May 2016	102.3	58.2
Jun. 2016	110.8	61.7
Jul. 2016	108.5	61.9
Aug. 2016	106.5	60
Sept. 2016	107	57.9
Oct. 2016	126.9	60.4
Nov.2016	145.7	62.9
Dec. 2016	127.6	73.8
Jan. 2017	123	72.5
Feb. 2017	125	76.2
Mar. 2017	122.6	75.3
Apr. 2017	120.3	69.6
May 2017	120.3	67.9
Jun. 2017	110.4	64.3
Jul. 2017	113.8	62
Aug. 2017	116.3	62.5
Sept. 2017	127.5	66.8
Oct. 2017	120.3	73

Lower prices on fish

The prices within the manufacturing industry as a whole went up by 0.5 per cent from September to October. This was to a large extend caused by higher prices within the refining industry, where prices on refined petroleum products increased by 6.4 per cent. The price development on food products pulled in the other direction and that was mainly caused by lower prices on fish and seafood products. This was the third month in a row with declining prices on processed fish and seafood.