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Higher producer prices
statistikk
2013-08-09T10:00:00.000Z
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 July 2013

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Higher producer prices

The Producer price index (PPI) rose by 2.4 per cent from June to July 2013. Higher prices within extraction of oil and natural gas as well as refined petroleum product were the main reasons for the increase in the PPI. From July 2012 to July 2013 the PPI increased by 3 per cent.

Producer price index. 2000=100Published 9 August 2013
Per centIndexWeights1
July 2013 / June 2013July 2013 / July 2012July 2013
1The weights are updated annually, and are valid for the entire year.
Industrial Classification
Extraction, mining, manufacturing and electricity2.43.0247.81 000.0
Extraction and related services3.41.9384.5482.3
Mining and quarrying-0.61.4168.29.6
Manufacturing1.70.3158.0466.1
Food, beverages and tobacco1.22.8149.494.6
Refined petroleum, chemicals, pharmaceuticals4.4-0.8218.9136.5
Basic metals0.8-6.4156.641.3
Machinery and equipment0.31.8149.547.9
Electricity, gas and steam0.857.5244.842.0

Source: Statistics Norway

The PPI was 247.8 (2000=100) in July 2013, compared with 241.9 in June.

One-month change: price increase in most industries

An important reason behind the increase in PPI from June to July 2013 was 3.8 per cent higher prices within extraction of oil and natural gas. The price increase was due to an increase in the price of oil. Natural gas prices on the other hand, decreased moderately during the same period.

Prices within manufacturing rose 1.7 per cent from June to July, mainly due to an increase of 5.7 per cent in prices of refined petroleum products. In addition, prices of food products increased 1.1 per cent, mainly due to higher prices on the domestic market.

Some industries, for example computer and electrical equipment, mining and quarrying as well as wood and wood products, experienced decreasing prices from June to July 2013.

Twelve-month change: 3 per cent higher prices

The PPI rose by 3.0 per cent from July 2012 to July 2013. A large increase in electricity prices was the most important reason behind the increase in PPI. The large twelve-month change in electricity prices was due to low spot prices of electricity in July 2012. In addition to the increase in electricity prices, higher prices within extraction of oil and natural gas was another important reason behind the increase in the PPI.

Price decreases within basic metals industry and mining support service activities contributed to dampening the increase in the PPI from July 2012 to July 2013. Prices of basic metals fell 6.4 per cent, due to lower prices on both the export and the domestic market, while mining support service activities had 3.1 per cent lower prices in July this year compared to July last year.