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12903
Lower prices of oil
statistikk
2002-12-10T10:00:00.000Z
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 November 2002

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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Lower prices of oil

The commodity price index went down by 5.1 per cent from October to November. Lower oil price was the major contributor to the decline, but prices of electricity, however, continued to surge.

From October to November prices within oil and gas extraction went down about 12 per cent. Figures from London Spot Markets showed a near 14 per cent decrease in crude oil prices (Brent Blend measured in NOK). Manufacturing prices declined by 0.7 per cent. The strongest decline occurred in refined petroleum products where prices went down by 8.4 per cent. Higher prices of basic metals and chemicals dampened the decline in manufacturing. Electricity prices continued to climb and increased more than 25 per cent from the previous month. These prices are now the highest since the commodity price index started in 1995.

According to end use energy goods went down by 9.6 per cent, while intermediate goods and consumer goods went down by 0.7 and 0.3 per cent respectively.

The 12-month rate; Overall prices up 3.2 per cent

Despite the latest fall in prices the commodity price index showed a 3.2 per cent increase compared with last November. Increased prices within oil and gas extraction explain the total rise. In addition electricity prices went up close to 62 per cent. Manufacturing prices went down by 1.3 per cent, mainly due to lower prices of basic metals as well as of pulp, paper and paper products. These industries showed a fall of 8.3 and 10.1 per cent, respectively. Also food and chemicals showed a decline.

Commodity price index for the industrial sectors. 2000=100
  November 2002 Changes, per cent
  October-November 2002 November 2001-November 2002
Total index 90.98 -5.1 3.2
Oil and gas extraction 77.07 -11.9 6.1
Manufacturing, mining and quarrying 96.71 -0.7 -1.3
Electricity, gas and steam supply  222.29 25.4 61.9