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Rising prices in basic metals since April
statistikk
2016-08-10T10:00:00.000Z
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
false
The PPI rose by 0.4 per cent from June to July.

Producer price index, July 2016

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As from 23 September, all of Statistics Norway’s statistics will be released at 8 am.

Rising prices in basic metals since April

Prices on basic metals in the Producer Price index (PPI) increased by 4 per cent from June to July. Price increases in nickel and copper in the world market contributed to the rise. Basic metals in the PPI have increased every month since April.

Producer price index. 2000=100Published 10 August 2016
Industrial ClassificationIndex change in per centIndexWeights1
June 2016 - July 2016July 2015 - July 2016
1The weights are updated annually, and are valid for the entire year.
Extraction, mining, manufacturing and electricity0.4-7.2211.21 000.0
 
Extraction and related services-0.6-20.6257.2405.4
Mining and quarrying1.24.0180.87.6
Manufacturing1.30.5162.0544.6
Food products1.77.3180.3117.0
Refined petroleum products4.0-7.1179.479.1
Basic metals4.0-6.3176.745.7
Machinery and equipment0.04.4158.959.2
Electricity, gas and steam-2.074.9244.442.4

Source: Statistics Norway

The PPI rose by 0.4 per cent from June to July. The main contributor last month was a relatively big growth in the prices of natural gas.

Big monthly growth in basic metals

Prices of basic metals have risen continually since April, and reached their highest level since November 2015. From June to July the increase was 4 per cent. Nickel, aluminium, zinc and copper are parts of the production of basic metals in Norway and therefore included in the PPI. All of these metals had price rises, as did iron and steel.

Prices rose in natural gas and manufacturing

The group ‘extraction of oil and natural gas’ had an increase of 0.3 per cent last month. This was mainly due to a large increase in prices of natural gas. The price of crude oil went down 5.6 per cent and nearly offset the total rise in the price of natural gas.

Within manufacturing goods as a whole, prices rose 1.3 per cent. The main contributor here was the industry refined petroleum products, where the rise in prices was 4 per cent.