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PPI rose by 0.9 per cent
statistikk
2013-04-10T10:00:00.000Z
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 March 2013

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PPI rose by 0.9 per cent

The Producer price index (PPI) rose by 0.9 per cent from February to March 2013. Higher prices of electricity and natural gas were the main reason behind the increase in PPI. From March 2012 to March 2013 the PPI declined by 3.4 per cent.

Producer price index. 2000=100Published 10 April 2013
Per centIndexWeights1
March 2013 / February 2013March 2013 / March 2012March 2013
1The weights are updated annually, and are valid for the entire year.
Industrial Classification
Extraction, mining, manufacturing and electricity0.9-3.4247.11 000.0
Extraction and related services0.2-8.1378.5482.3
Mining and quarrying-0.110.4166.89.6
Manufacturing1.0-1.2157.7466.1
Food, beverages and tobacco-0.51.7145.694.6
Refined petroleum, chemicals, pharmaceuticals2.0-4.9220.3136.5
Basic metals0.8-5.1162.741.3
Machinery and equipment0.51.4147.847.9
Electricity, gas and steam7.821.7282.742.0

Source: Statistics Norway

The PPI rose by 0.9 per cent from February to March 2013. In addition to higher prices of natural gas, an important reason for the increase in the PPI was an increase of almost 8 per cent in electricity prices. Another reason behind the increase in the PPI was a rise of 1 per cent in manufacturing prices. Both export prices and prices of products sold on the domestic market rose. Price rises within repair and maintenance of machinery and equipment, production of chemicals and chemical products and production of basic metals were important reasons behind the price rise in the domestic market. Two important reasons for the rise in export prices were higher export prices of refined petroleum products and basic metals.

The most important contribution to dampening the increase in the PPI from February to March 2013 was a decrease in the price of oil. However, as gas prices rose during the same period, the price index of extraction of oil and natural gas increased marginally by 0.1 per cent. Food prices decreased 0.5 per cent from February to March. Lower prices of meat and fish were two important reasons for this.

Twelve month change - lower export prices

The PPI decreased 3.4 per cent from March 2012 to March 2013. Lower prices within extraction of oil and natural gas were an important reason for the decrease in the PPI. An important factor that contributed to dampening the effect of the fall in prices within extraction of oil and natural gas was a rise of almost 22 per cent in electricity prices.

From March last year to March this year, prices developed differently in the domestic market than in the export market. Prices in the domestic market increased 2 per cent. In addition to higher electricity prices, most of the manufacturing industries experienced increasing prices. Two important exceptions are refined petroleum products and basic metals, where prices decreased

Export prices sank from March last year to March this year. In addition to lower prices within extraction of oil and natural gas, many of the manufacturing industries experienced a decrease in export prices from March last year to March this year.