Producer price index, 15 May 2007

The majority of product groups in manufacturing showed an increase in prices from April to May. The largest increase was a 4.7 per cent increase in prices of refined petroleum products. Figures from the London spot market showed a 7.5 per cent increase in prices of unleaded petroleum in this period, while prices of heavy fuel oil increased by 4.3 per cent. Prices of wood and wood products continue to rise and increased by 1.2 per cent last month. The London Metal Exchange indicated that prices of aluminium increased by 3.5 per cent, while nickel went up 3.3 per cent. Only food products experienced a decrease in prices in May.

Among the main industrial groupings intermediate goods and energy goods increased by 0.5 and 0.8 per cent, respectively.

12-month rate

Manufacturing prices have increased by 6.5 per cent since May last year, with price increases for most products. Basic metals showed the largest increase, with prices up 18.8 per cent. Chemical prices have increased by 6.0 per cent, while rubber and plastic products is the only group that have experienced a decrease in prices.

The total index is down 1.7 per cent compared with May last year, mainly due to lower prices of energy goods. Prices of crude oil (Brent Blend) have fallen by 5.9 per cent, while electricity prices have decreased by 38.9 per cent.

Among the main industrial groupings prices of intermediate goods increased by 10.7 per cent over the last twelve months, while consumer goods went up 1.5 per cent. Energy goods went down 7.2 per cent.