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Prices of manufacturing products dropped
statistikk
2003-06-10T10:00:00.000Z
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 May 2003

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Prices of manufacturing products dropped

Manufacturing prices went down by 0.8 per cent from April to May. A drop in prices of refined petroleum products was the main reason for this decline.

Prices of refined petroleum products dropped 7.9 per cent from April to May. In this period figures from London Spot Markets (LSM) show that prices of unleaded gasoline went down by 10.4 per cent, while heavy fuel oil showed hardly any no change (measured in NOK). This development should bee seen in relation to a stronger NOK compared with the US dollar. In April the rate of the dollar was nearly NOK 7.22 while the May exchange rate was about NOK 6.80. Prices of food products also showed a moderate increase of 0.1 per cent, while prices of basic metals decline of 0.5 per cent.

In the main industrial groupings - prices of energy goods went down 1.8 per cent compared with April. Intermediate goods increased by 0.1 per cent, while consumer goods went down 0.2 per cent.

On the domestic market manufacturing prices showed a 1.2 per cent decrease. Prices of refined petroleum products showed the strongest decrease in the domestic market. Basic metals and chemicals and chemicals products showed a decline as well.

12-month rate: May 2002 - May 2003

Manufacturing prices decreased by 0.8 per cent compared with figures for May 2002. This development was mainly due to decreased prices of refined petroleum of 4.4 per cent. Food products showed a decrease of 1.9, while chemicals and chemical products increased by 4.7 per cent.

Concerning main industrial groupings - energy goods decreased by nearly 9 per cent compared with figures for May 2002. Intermediate goods also decreased - by 0.4 per cent.

Producer price index. 2000=100
  May 2003 Change in per cent
  April 2003- May 2003 May 2002- May 2003
Total index 88.22 -0.9 -4.5
Oil and gas extraction 77.20 -0.9 -13.0
Manufacturing, mining and quarrying 97.60 -0.9 -0.8
Electricity, gas and steam supply  213.53 -1.3 54.0

Commodity price index for the industrial sectors

As mention last month the articles for the Producer price index and the Commodity price index for the industrial sectors will be coordinated. The web pages for both surveys will remain the same for the time being - www.ssb.no/ppi_en and www.ssb.no/vppi_en.

The monthly and the 12-month rate for the surveys showed no differences in May. Therefore no new information is added about the commodity price index.

Commodity price index for the industrial sectors. 2000=100
  May 2003 Changes, per cent
  April 2003-May 2003 May 2002-May 2003
Total index 92.14 -0.9 -4.5
Oil and gas extraction 77.20 -0.9 -13.0
Manufacturing, mining and quarrying 97.78 -0.9 -0.8
Electricity, gas and steam supply  206.57 -1.3 54.0