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Record oil price level - again
statistikk
2005-08-10T10:00:00.000Z
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 July 2005

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Record oil price level - again

After the record level of the crude oil price in June the crude oil price (Brent Blend) rose further by 8.5 per cent - to 379 NOK per barrel. The prices of heavy heating fuel and unleaded gasoline also rose - by 10 and 16 per cent - respectively.

;>Price development for some SITC groups. 2000=100

The Producer Price Index increased by 4.6 per cent from June to July. The main reason was that the

crude oil price (Brent Blend) increased by 8.5 per cent, according to London Spot Markets.

Manufacturing prices rose with 1.9 per cent. Here refined petroleum products contributed most with an increase of 11.9 per cent. Unleaded gasoline, for instance, increased by 16.4 per cent. Also prices of Manufacture of food, beverages and tobacco rose - with 1.4 per cent. On the other hand, within Basic metals and Basic chemicals prices fell last month - with 2.2 and 2.0 per cent, respectively. The price of nickel for instance, decreased by 8.0 per cent, according to London Metal Exchange (LME).

The spot price of electricity rose by 10.2 per cent from June to July, according to Nord Pool. With that it is back to a more normal level after the irregularly low level in June.

Looking at the main industrial groupings we see that prices of capital goods, non-durable consumer goods and energy goods increased by 0.1, 0,9 and 7.8 per cent, respectively. Prices of intermediate and durable consumer goods fell by 0.8 and 0.4 per cent, respectively.

Producer prices increased by 2.3 per cent in the domestic market. The rice of prices was lower here compared to the total eksport- and domestic market - mainly because the oil price and refined petroleum products are lower weighted at the domestic market.

12-month rate, July 2004 to July 2005: Increase of 19.3 per cent

The increase in the Producer Price Index over the past twelve months has been caused by both large price increases in the crude oil and refined petroleum products (44.3 and 38.4 per cent respectively) and a general increase for almost all industries. But the prices of Basic metals decreased by 1.3 per cent from July 2004 to July 2005.

Producer price index. 2000=100
  July 2005 Changes in per cent
  June 2005-July 2005 July 2004-July 2005
Total index  126.6 4.6 19.3
Oil and gas extraction  145.1 7.4 36.4
Manufacturing, mining and quarrying  113.8 1.9 6.8
Electricity, gas and steam supply  199.3 4.7 -9.0

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 - http://www.ssb.no/ppi_en/ and http://www.ssb.no/vppi_en/ .

Commodity price index for the industrial sectors. 2000=100
  July 2005 Change in per cent
  June 2005-July 2005 July 2004-July 2005
Total index  132.2 4.6 19.3
Oil and gas extraction  145.1 7.4 36.4
Manufacturing, mining and quarrying  114.0 1.9 6.7
Electricity, gas and steam supply  192.8 4.7 -9.0