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12560
Increase in prices of metals and chemicals
statistikk
2004-03-10T10:00:00.000Z
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 2004

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Increase in prices of metals and chemicals

The total index went up 0.7 per cent from January to February. Manufacturing prices went up by 0.7 per cent, largely due to an increase in prices of metals and chemicals.

Basic metals experienced the largest increase in prices, 4.5 per cent from January to February, and non-ferrous metals went up by 4.4 per cent in the same period. Chemicals and chemical products increased by 2 per cent, whereas basic chemicals increased by 2.8. The only decline was recorded for refined petroleum products and wood processing, where prices went down by 1.3 and 0.7 per cent respectively.

Oil and gas extraction prices went up by 1.1 per cent, whereas electricity prices decreased by 1.7 per cent. Among the main industrial groupings, consumer goods increased by 0.5 per cent and energy goods by 0.6 per cent.

12-month rate: 3.0 per cent increase in manufacturing prices

Compared with February last year manufacturing prices increased by 3.0 per cent, mainly because of the 24.8 per cent increase in prices of basic metals. Last month's decrease in prices of refined petroleum products, combined with increased prices the corresponding month last year has led to prices 9.2 per cent below the ones in February 2003. The 12-month rate for this group of products was 1.0 per cent in January.

Among the main industrial groupings, intermediate goods went up by 7.3 per cent, consumer goods by 1.8 per cent, and energy goods decreased by 6.6 per cent compared with figures from February last year.

The total index went down by 1.3 per cent compared with February 2003. Electricity, gas and steam supply decreased by 31.1 per cent and oil and gas extraction went down by 4.3 per cent the last 12 months.

Producer price index. 2000=100
  February 2004 Changes in per cent
  January 2004-
February 2004 		February 2003-
February 2004
Total index 96.2 0.7 -1.3
Oil and gas extraction 89.3 1.1 -4.3
Manufacturing, mining and quarrying  102.3 0.6 2.9
Electricity, gas and steam supply  220.3 -1.7 -31.1

Commodity price index for industrial sectors

As announced previously the articles for the Producer price index and the Commodity price index for the industrial sectors are now 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 changes of the producer price index and the commodity price index may show minor deviations due to different index levels and rounding. No extra information is added to the commodity price index.

Commodity price index for the industrial sectors. 2000=100
  February 2004 Changes in per cent
  January 2004-
February 2004 		February 2003-
February 2004
Total index  100.5 0.8 -1.3
Oil and gas extraction 89.3 1.1 -4.3
Manufacturing, mining and quarrying  102.5 0.7 3.0
Electricity, gas and steam supply  213.1 -1.7 -31.1

Updated weights and one decimal from January 2004

Production figures from national accounts are the basis for weight in the indices. Weights for 2004 are now introduced and result in some shifts in balance among the groups. Manufacturing in total is much the same as in 2003. Oil and gas extraction have lost some weight, while electricity have gained. Within manufacturing refined petroleum products have become more important, while foods products and wood processing have lost weight.

From January - figures for all indices are published with one decimal. Two decimals have a tendency to give an exaggerated impression of the accuracy of the estimates. In addition we want to harmonize the indices with common practice - where one decimal is used.