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12745
Oil prices still rising
statistikk
2000-03-10T10:00:00.000Z
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 2000

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Oil prices still rising

The producer price index climbed 1.1 per cent from January to February. The rise was due to increased prices in both manufacturing and in the oil markets. The 12-month rate went up from 7.2 to 8.1 per cent.

Uncertainty regarding OPEC's future production rates kept oil prices high during February. The average price of Brent Blend was US$ 27.50, an increase of 8.2 per cent from the previous month. Taking increased exchange rates into consideration this means roughly 11 per cent rise measured in Norwegian currency (NOK). Compared with the low point last February, the price has jumped about 190 per cent measured in NOK. The group oil extraction and quarrying increased 4.9 per cent from January to February. The 12-month rate was 57.9 per cent.

Manufacturing prices continued to climb

From January to February the manufacturing prices increased 0.7 per cent. Apart from Manufacture of wood and wood products all groups showed increase. The greatest contribution came from the groups Manufacture of basic metals and Manufacture of paper and paper products, printing and publishing. These groups increased respectively 3.5 and 1.4 per cent. The 12-month rate for Manufacturing was 4.3 per cent.

Producer price index. 1981=100
    Changes, per cent
  February 2000 January 2000-February 2000 February 1999-February 2000 December-February 1999-2000 -December-February 1998-1999
Total index 175,7 1,1 8,1 7,4
Oil extraction, mining and quarrying 129,5 4,9 57,9 52,6
Manufacturing 180,4 0,7 4,3 3,8
Manufacture of food, beverages and tobacco 202,9 0,1 -0,7 -0,6
Manufacture of textiles, wearing apparel, leather and leather products 159,6 0,1 0,4 0,4
Manufacture of wood and wood products 189,2 -0,1 1,9 1,9
Manufacture of paper and paper products, printing and publishing 207,6 1,4 4,5 3,6
Manufacture of chemicals and chemical petroleum, coal, rubber and plastic products 146,3 0,8 19,1 17,4
Manufacture of mineral products 216,8 0,4 1,6 1,6
Manufacture of basic metals 145,9 3,5 8,5 6,9
Manufacture of fabricated metal products, machinery and equipment 190,7 0,5 1,2 1,1