The Producer Price Index (PPI) measures price developments in manufacturing, extraction of oil and gas, electricity supply and mining, both in terms of sales to the Norwegian market, and abroad. In this article, we mainly focus on the manufacturing industries. Key Norwegian manufacturing industries include the food industry, chemical production, petroleum and coal processing and the manufacture of basic metals.

The producer price index (PPI) measures the price development that important parts of the Norwegian industry receive for their goods. Compared with the more well-known consumer price index (CPI), PPI measures price developments at an earlier point in the value chain. The CPI measures the price development that households pay for different goods, while the PPI measures prices "at the factory gate". Thus, PPI is an important indicator of the condition in the Norwegian industry. The index is used to analyse the Norwegian economy and can also be an indication of the development in the CPI.

The PPI measures the price development in extraction of oil and natural gas, manufacturing, water- and electricity supply and for certain services, including services related to oil and gas extraction. Prices are measured on goods sold in the first stage of sales from the producer to the Norwegian market (domestic market), in addition to the foreign market (export market).

Price reduction from May to June for the Norwegian industry’s exported goods

The prices achieved by the Norwegian industry for exported goods decreased by 3.4 percent from May to June. Seafood, chemical products and refined petroleum products contributed significantly to the price decline for Norwegian industry. From May to June, export prices for “process. and preserv. of fish etc.” fell by 2.8 percent, “chemicals, chemical products” by 8.3 percent and refined petroleum products by 13.8 percent. The price decline for refined petroleum products in June was probably related to a price decline for crude oil extraction the previous month, as they are closely correlated and with a time lag.

Despite the price decline from May to June, there is still significant price growth compared to June 2025 for both “process. and preserv. of fish etc.” and refined petroleum products, of 13.8 and 39.7 percent respectively. For the metal industry, export prices continued to rise in June and were 16.9 percent higher than in June 2025. A slightly higher 12-month growth than in May. 

Other important twelve-month changes

  • The price index for extraction of crude oil and natural gas went down 12,2 percent in June compared to Mai this year. Compared to June last year, prices were 15.2 percent higher. Last month’s price drop contributed to a 7.1 percent price drop in the total PPI in June.   
  • Prices in the power supply sector, which include electricity and its distribution fell by 9.3 percent in June. Compared with June last year prices were 68.8 percent higher.