12813_not-searchable
/en/priser-og-prisindekser/statistikker/ppi/arkiv
12813
Decrease in manufacturing prices
statistikk
2008-11-10T10:00:00.000Z
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
false

Producer price index, 15 October 2008

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Decrease in manufacturing prices

The prices in manufacturing decreased by 2.3 per cent from September to October. This decrease is mainly driven by reduced prices within refined petroleum products and basic metals.

;>Price development for selected product groups. 2000=100

The prices in manufacturing were 2.3 per cent lower in October compared to September. The prices in oil and gas extraction contributed to moderate the decrease in the producer price index (PPI), which show a decrease by 1.3 per cent from September to October. The producer prices have declined since July this year.

In the group manufacturing it was the prices within refined petroleum products and basic metals that lowered the manufacturing price index, with a decrease by 12.6 and 2.3 per cent respectively. Non-ferrous metals reduced the index for basic metals. The remainders in the group basic metals are characterized by increased prices and particularly the prices of iron and steal increased markedly from September to October. Apart from refined petroleum products and basic metals, the prices in manufacturing rose moderately from September to October.

The index for oil and gas extraction increased by 0.5 per cent. The price of crude oil (Brent Blend, in NOK) dropped 17.6 per cent, but an increase in the price of natural gas had the opposite effect. The increase in the exchange rate of the US dollar from September to October have reduced the effect of the price drop of crude oil in NOK, and enhanced the increase in the gas price.

The price of electricity dropped by 11.9 per cent from September to October, and also contributed to lower the producer price index.

Twelve month change: up 26 per cent

The producer price index has increased by 26 per cent from October 2007 to October 2008. This is due to the high twelve month change in the indices for oil and gas extraction and electricity.

In the group manufacturing, mining and quarrying the prices have increased by 7.4 per cent since October last year. It is particularly the prices of refined petroleum products and chemicals and chemical products that contribute to the twelve month growth, with an increase of 12.3 and 16 per cent respectively.

Producer price index. 2000=100
       October 2008 Changes, per cent
       September 2008-
October 2008 		     October 2007-
October 2008
Total index  176.5 -1.3 26.0
       
Oil and gas extraction  226.5 0.5 44.1
Manufacturing, mining and quarrying  137.2 -2.3 7.4
Electricity, gas and steam supply  421.1 -11.9 72.1
       
Main industrial groupings      
Intermediate goods  132.5 -0.4 6.2
Capitals goods  120.1 1.2 4.9
Consumer goods  119.7 0.7 5.6
Energy goods  227.3 -2.1 40.8

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