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Lowest natural gas price in seven years
statistikk
2016-10-10T08:00:00.000Z
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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The producer price index (PPI) measures price changes for oil and gas, manufacturing, mining and electricity. The PPI fell by 1.6 per cent from August to September 2016.

Producer price index, September 2016

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Lowest natural gas price in seven years

Lower prices on natural gas and extraction services were the main contributors for a drop in the PPI from August to September. Lower prices on fish and non-ferrous metals also contributed to the decline.

Producer price index. 2000=100Published 10 October 2016
Industrial ClassificationIndex change in per centIndexWeights1
August 2016 - September 2016September 2015 - September 2016
1The weights are updated annually, and are valid for the entire year.
Extraction, mining, manufacturing and electricity-1.6-6.1204.21 000.0
 
Extraction and related services-3.5-18.4241.8405.4
Mining and quarrying0.41.2178.07.6
Manufacturing-0.51.2159.4544.6
Food products-0.95.7177.4117.0
Refined petroleum products0.2-1.1166.179.1
Basic metals-1.5-1.2180.045.7
Machinery and equipment-0.14.3159.059.2
Electricity, gas and steam0.537.2241.042.4

Source: Statistics Norway

The PPI fell 1.6 per cent from August to September. This was the second month in a row with a decline. Before that the PPI was on an upward trend as it increased continuously from February to July this year. 

Lower prices on natural gas and extraction services

The price on crude oil went slightly up from August to September while the price of natural gas fell substantially. It is almost seven years since the price of natural gas was as low as in September. 

The prices of extraction services went down from August to September. Since January 2015, prices in this sector have gone down over 15 per cent. This must be seen in context with lower levels on the crude oil price. 

The prices within manufacturing went down for the second month in a row

The prices within manufacturing as a whole went down 0.5 per cent from August to September. Lower prices on food products and metals were among the main contributors. This was the second month in a row with a drop in manufacturing prices, after a continuous increase from February to July. 

Lower prices on food products and metals

The prices in the food industry also went down for the second month in a row after growing continuously from September last year to July this year. Lower prices on fish were the main contributor for the drop from August to September. Further, a decline of 2.2 per cent in the prices of non-ferrous metals contributed to lower metal prices in the PPI. 

The prices of electricity rose by 0.5 per cent from August to September and contributed to dampen the decline in the PPI.