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12933
Prices of basic metals down
statistikk
2001-09-10T10:00:00.000Z
Prices and price indices;National accounts and business cycles;Energy and manufacturing
en
vppi, Commodity price index for the industrial sector (discontinued), price trends, inflation, domestic market, export market, oil and gas production, mining and quarrying, electricity supply, economic indicator, intermediate goods, energy goods, consumables, capital goods, metal-working industry, food industry, oil refining, machine industryProducer 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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Commodity price index for the industrial sector (discontinued), 15 August 2001

The statistics has been discontinued, but the same figures can be found in this statistics Producer price index for oil and gas, manufacturing, mining and electricity.

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Prices of basic metals down

Prices in manufacturing went down by 0.9 per cent from July to August. The main reason was lower prices of basic metals. With this the prices in manufacturing was 0.5 per cent lower than August last year.

Within manufacturing the main contribution to the fall in the index was lower prices of basic metals, especially non-ferrous metals. The prices fell 4.4 per cent and 5.1 per cent respectively. Another group is chemicals where the prices fell by 1.3 per cent. In the opposite direction went prices of refined oil products, which increased by 0.9 per cent since last month.

The commodity price index grew 1.6 per cent after declining 7.4 per cent last month. The reason is higher prices in the group oil and gas extraction. Prices in manufacturing and electricity moved in the opposite direction. The latter fell by 2.4 per cent, which contributed to a lower 12-month rate for electricity, from 141.7 per cent in July to 80.2 per cent in August.

The 12-month rate went from a negative 3.1 per cent in July and further down to -4.3 per cent in August for the total index. All main groups had a poorer growth in the 12-month rate this month.

For the first time since January 1999 the 12-month rate in manufacturing became negative. Throughout last year and partly the year before the 12-month rates were rather high, at the most they were more than 11 per cent. This was due to the record high prices of oil, which were transmitted to the manufacturing via the refined petroleum products mainly. In August most of the 12-month rates in the manufacturing groups were weaker than last month. The largest change was the price of basic metals, where the price was 8.7 per cent lower than last year.

Within the main industrial groupings the energy goods increased by 3.3 per cent from July to August. The intermediate goods fell 2 per cent, while the consumer goods recorded a modest decrease of 0.2 per cent.

Re-estimation

The main industrial groupings are adjusted in order to make conformity between statistics in European countries and Norway. The commodity price index has re-estimated the main industrial groupings back to 1995. The resulting indices have only modest changes. Intermediate goods had the largest difference in growth in 1998 with about one per cent

Commodity price index for the industrial sectors. 2000=100
  August 2001 Changes, per cent
  July-August 2001 August 2000-August 2001
Total index 98,33 1,6 -4,3
Oil and gas extraction 94,72 3,7 -10,0
Manufacturing, mining and quarrying 100,24 -0,9 -0,3
Electricity, gas and steam supply 140,06 -2,4 80,2