Commodity price index for the industrial sector (discontinued), 15 February 2003

Manufacturing prices went up 1.6 per cent from January to February, and are now about 3 per cent higher than three months ago. Last month's increase is the greatest since the last half of 2001. A majority of the manufacturing groupings showed increases in this period. Refined petroleum products went up approximately 10 per cent from January to February. Increased prices of metals and chemicals were other significant contributors to the overall development.

Prices within oil and gas extraction went up by 4 per cent from January to February. According to the London Spot Markets - prices of crude oil (Brent Blend) went up 5.3 per cent in this period. The overall increase was to some degree brought down by a steep decline of about 18 per cent in prices of electricity.

According to the main industrial groupings all main commodities showed increases. The largest increase occurred for energy goods, which showed a 3.1 per cent rise.

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

Prices within oil and gas extraction are, as in January, about 20 per cent higher than 12 months ago. Manufacturing prices have increased 2.3 per cent since last February, and this is the largest 12-month growth since 2001. Electricity prices have in February increased about 80 per cent compared with the corresponding period last year. Nevertheless, the 12-month rate of the latter commodity showed a large decline compared with January, when the increase was 133.5 per cent.