Commodity price index for the industrial sector (discontinued), 15 June 2001

A 0.7 per cent increase in prices of products in the group oil and gas extraction made the total index increase 0.3 per cent from May to June. In the same period both manufacturing and electricity prices went down, the latter group by 1 per cent. Figures from London Spot Markets (LSM) show a 0.8 per cent increase in the price of crude oil (Brent Blend) measured in NOK.

Refined petroleum products down 2 per cent

Within the manufacturing group, the prices of refined petroleum products decreased by 2 per cent. The decline was mainly due to a drop in prices of gasoline. Figures from LSM showed a 19 per cent fall in prices of unleaded gasoline (measured in NOK). The 12-month rate for refined petroleum products was 3.1 per cent down from 10.7 per cent in May. Another important contributor to the development in the manufacturing group was a 1.3 per cent decrease in prices of basic metals. The strongest increase in prices from May to June occurred in the group food products, beverages and tobacco.

12-month rate for manufacturing: 2.3 per cent

The 12-month rate fell from 3 per cent in May to 2.3 per cent in June, mainly due to a decline in the prices of refined petroleum products. Basic metals had the largest increase rising from -2.5 per cent to 0.1 per cent.

Among the main industrial groupings the intermediate goods declined 0.4 per cent. Energy goods went up 0.5 per cent, while the price of consumer goods increased 0.3 per cent.