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Further price decline in manufacturing
statistikk
2013-07-10T10:00:00.000Z
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 June 2013

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Further price decline in manufacturing

The producer price index for oil and gas, manufacturing, mining and electricity (PPI) fell slightly from May to June 2013. Lower prices in electricity and manufacturing played the largest role in bringing the PPI down. From June 2012 to June 2013, the PPI increased by 1.7 per cent.

Producer price index. 2000=100Published 10 July 2013
Per centIndexWeights1
June 2013 / May 2013June 2013 / June 2012June 2013
1The weights are updated annually, and are valid for the entire year.
Industrial Classification
Extraction, mining, manufacturing and electricity-0.11.7241.91 000.0
Extraction and related services0.52.5372.0482.3
Mining and quarrying-1.911.4169.39.6
Manufacturing-0.4-1.0155.4466.1
Food, beverages and tobacco-0.22.6147.794.6
Refined petroleum, chemicals, pharmaceuticals-0.9-3.5209.6136.5
Basic metals-1.1-8.4155.441.3
Machinery and equipment-0.11.4149.047.9
Electricity, gas and steam-4.819.9242.842.0

Source: Statistics Norway

The PPI was 241.9 (2000=100) in June, compared with 242.2 in May. This equals a 0.1 per cent decrease in the PPI.

One-month change: further declines in electricity and manufacturing

A fall in electricity prices of 4.8 per cent was the main reason for the decrease in the PPI from May to June. Prices within manufacturing fell by 0.4 per cent in June; the third consecutive month with falling prices, and was about 3.2 per cent lower compared to April 2012, which was a historically high price level for manufacturing. The manufacturing group with the most significant price decline in June was chemical and pharmaceutical products, where prices fell by 3.2 per cent.

Price increases within extraction and related services dampened the decline in the PPI from May to June. The price increase was 0.5 per cent and was due to higher prices in mining support service activities. Prices within extraction of oil and natural gas also increased last month. The price increase in this group was due to the rise in prices of Brent Blend crude oil, measured in NOK, while gas prices dropped slightly from May to June.

Twelve-month change: oil and electricity prices up

The PPI rose by 1.7 per cent from June 2012 to June 2013. Higher prices in the extraction of oil and natural gas, and electricity caused the increase in the PPI during this period. Prices in these groups rose by 3.6 and 19.9 per cent respectively. Prices of food products increased by 2.7 per cent and was another group with a large impact on the twelve-month change in the PPI.

Prices of basic metals and refined petroleum products fell by 8.4 and 3.2 per cent respectively from June 2012 to June 2013, and had a dampening effect on the PPI. Among other industrial groups with price falls were mining support service activities, as well as chemical and pharmaceutical products.