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12807
Increase in manufacturing prices
statistikk
2009-02-10T10:00:00.000Z
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 January 2009

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Increase in manufacturing prices

Manufacturing prices increased 1.1 per cent from December 2008 to January 2009. Prices of refined petroleum products rose by 6.4 per cent during this period, while prices of basic chemicals and basic metals continued to fall.

Price development for some groups. 2000=100

The producer price index increased by 0, 5 per cent from December 2008 to January 2009. Prices within manufacturing rose 1.1 per cent during the same period. An important contribution to the price rise within manufacturing was a 6.4 per cent increase in prices of refined petroleum products. From December to January the prices within extraction of oil and natural gas had a small increase of 0, 5 per cent.

Paper and paper products and machinery and equipment saw their prices rise by 2, 4 and 3, 0 per cent, respectively. Wood and wood products, rubber and plastic products as well as fabricated metal products experienced a slight reduction in prices from December to January.

Prices of basic metals fell for the fourth month in a row. Non-ferrous metal prices decreased 2, 3 per cent form December to January, but also prices of other basic metals continued to decline.

The prices of basic chemicals fell 6, 4 per cent, a stronger decrease than we saw for this group from November to December.

Home market manufacturing prices down.

Manufacturing prices at the Norwegian home market fell from December 2008 to January 2009. Decrease in prices of refined petroleum products contributed to the fall. There was also a stronger decrease in chemical and pharmaceutical products in the home market than in home- and export markets seen as a total.

Twelve month growth: 3, 9 per cent increase

The producer price index increased 3.9 per cent from January 2008 to January 2009. The twelve month growth in prices within electricity, gas and steam and extraction of oil and natural gas were 5, 4 and 7, 8 per cent, respectively. Prices within manufacturing were unchanged in aggregate from January 2008 to January 2009.

Important announcement: New classification implemented

As of January 2009 a new version of Eurostat’s industry classification, NACE, is in use. The producer price index (PPI) and the commodity price index for the industrial sector (VPPI) are affected by the change of nomenclature from the publication of the January 2009 index. Click here to read more about the implications for users, calculation and dissemination .

New weights

With the new year, the weights used to compute the price indices have been updated. The weights indicate the relative influence of different industries on the overall index, and are based on the industries' share of Norwegian output value in the previous year. The biggest change from 2008 to 2009 is that the weight of oil and gas extraction increased. This is reciprocated by a decline in the weight of manufacturing industries. The industry with the largest decrease was the metals industry. Oil and gas extraction now make up approximately 49 per cent of the total index, while the manufacturing industries account for around 46 per cent. See table under the links "Weights" or "More tables in Statbank" in the left hand pane for more details about the weights.

Producer price index. 2000=100
  January 2009 Changes, per cent
  December 2008-
January 2009 		January 2008-
January 2009
Total index  172.2 0.5 3.9
       
Extraction of oil and natural gas  191.8 0.5 7.8
Manufacturing, mining and quarrying  131.0 1.1 0.2
Electricity, gas and steam supply  323.4 -8.5 5.4
       
Main industrial groupings:      
Intermediate goods  132.4 -1.2 3.3
Investment goods  125.1 2.2 6.9
Consumer goods  120.9 -0.1 6.3
Energy goods  202.6 0.9 3.2