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12817
Decrease in producer prices
statistikk
2008-09-10T10:00:00.000Z
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 August 2008

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Decrease in producer prices

The producer price index fell by 1.3 per cent from July to August of 2008. Both the oil price and prices within manufacturing showed a decrease, while prices for electricity experienced their third month in a row with a price increase.

;>Price development for some groups. 2000=100

The producer price index (PPI) fell by 1.3 per cent from July to August 2008. Lower prices for oil and for refined petroleum products were the main reasons for this decrease. Prices within oil and gas extraction went down 2.8 percent. A 7.5 per cent decrease in the oil price (Brent blend measured in NOK) caused the decrease for this group of products. Electricity prices rose for the third month in a row. This time the price increase was 21.7 per cent.

Basic chemical prices climbed

Prices for refined petroleum products dropped 6.6 per cent from July to August. Non-ferrous metals had a 1.7 per cent price decrease. The price changes for these two groups made the strongest contribution to the 0.9 percent decrease in manufacturing prices from July to August.

Prices of basic chemicals climbed 6.1 per cent from July to august. Apart from a price decrease from April to May, basic chemicals have experienced a continuous price rise since November 2007. The prices for this group were 20.5 percent higher in August 2008 than in November of 2007.

Twelve month change: 33.8 per cent increase

The producer price index has increased by 33.8 per cent since august 2007. The strong growth is mainly caused by a 55.7 per cent price increase for oil and natural gas , as well as a jump up of 228.6 per cent in electricity prices. Prices in Manufacturing, mining and quarrying were 8.9 per cent higher in august of 2008 than in august of 2007. Important price changes within manufacturing are found for the groups refined petroleum products(+31.8 per cent) and chemicals and chemical products(+10.5 per cent) . Non-ferrous metals had a rather large price drop of 11 per cent from august 2007 to august 2008.

Producer price index. 2000=100
  August 2008 Changes, per cent
  July 2008-August 2008 August 2007-August 2008
Total index  179.5 -1.3 33.8
       
Oil and gas extraction  231.8 -2.8 55.7
Manufacturing, mining and quarrying  139.9 -0.9 8.9
Electricity, gas and steam supply  379.2 21.7  228.6
       
Main industrial groupings:      
Intermediate goods  131.1 0.8 4.1
Capitals goods  118.3 0.3 2.5
Consumer goods  118.2 0.5 3.5
Energy goods  235.2 -2.4 57.2

For information on the commodity price index for the industrial sectors, see http://www.ssb.no/vppi