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12765
Increased prices in manufacturing
statistikk
2010-11-10T10:00:00.000Z
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
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Producer price index, 15 October 2010

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Increased prices in manufacturing

The producer price index (PPI) for October shows that prices in Norwegian mining and manufacturing were 6.3 per cent higher than one year earlier. The increase from September to October was 0.5 per cent.

Price development for selected industries. 2000=100

Prices in Norwegian manufacturing have increased since August, following a summer of minor changes. From September to October prices were up 0.5 per cent. The prices achieved by Norwegian miners and manufacturers were 6.3 per cent higher than in October of last year. The strongest price increases have been found particularly in industries that are export-oriented, such as the metals industry and refined petroleum products. These are often subject to more volatile prices than industries which are more oriented towards the domestic market, such as the food and wood industries. The difference in the compositions and price developments of the export and domestic markets is evident in the price index. Since the trough of December 2008, prices in Norwegian manufacturing overall have increased by 13.4 per cent, while for goods sold in the domestic market the increase is only 4.2 per cent over the same period.

The price of crude oil increased from September to October, while the price of natural gas fell. This resulted in a decrease of 0.8 per cent in the index for the extraction of oil and natural gas, the second consecutive month of lowered prices in this industry.

Overall, the producer price index (PPI), which covers mining, extraction, manufacturing and electricity, was practically unchanged from September to October.

Twelve-month growth: 18 per cent higher prices

The PPI rose by 18 per cent from October last year to October this year. As already mentioned, the development in the metals and oil refining industries has contributed to the increase in Norwegian producer prices. So has the price of oil and natural gas. The price index for extraction was more than 30 per cent higher in October than twelve months earlier. Prices in the food industry also increased over this period, albeit to a lesser degree. Due to, among other things, higher prices of fish and fish products, prices for food were 4.4 per cent higher than in October of last year.

Producer price index. 2000=100
  October 2010 Changes, per cent
    September 2010-
October 2010 		  October 2009-
October 2010
Total index  208.4 - 18.0
       
Extraction of oil and natural gas  283.5 -0.8 32.3
Manufacturing, mining and quarrying  146.5 0.5 6.3
Electricity, gas and steam supply  310.5 3.7 30.6
       
Main industrial groupings      
Intermediate goods  140.3 0.1 6.3
Investment goods  126.3 -0.2 1.4
Consumer goods  126.2 0.2 2.9
Energy goods  274.6 - 29.3

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