Commodity price index for the industrial sector (discontinued), 15 July 2002

The prices of food products fell 0.7 per cent. The prices of fish, especially export prices, contributed strongly to this decline. The prices of basic metals decreased by 2.4 per cent. In this group the largest downward effect came from non-ferrous metals. Price decreases of fish and basic metals are also influenced by the exchange rate (NOK/USD), which has weakened further.

Together with lower prices in oil and gas extraction, and electricity, the development of the manufacturing prices contributed to a 0.4 per cent decrease in the overall index from June to July.

12-month rate

Manufacturing prices have declined by 4.4 per cent compared with last July. This is mainly due to lower prices of refined petroleum products and basic metals. Prices in these groups declined by 19.3 and 15.4 per cent respectively. In addition prices are down for pulp, paper and paper products.

Manufacturing 12-month rate

In July the 12-month rate was -4.4 per cent, after -5 per cent in June. This price development of refined petroleum products and basic metals contributed the most to this. The former went from -24.2 per cent in June to -19.3 per cent in July, while the latter increased from -6.5 to -2.8 per cent.

Since July 2001 the manufacturing 12-month rate has been negative. A corresponding picture can be found in several industries, among others refined petroleum products, basic metals, chemicals, and pulp, paper and paper products.