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12895
Prices of crude oil declined
statistikk
2003-04-10T10:00:00.000Z
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 March 2003

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 crude oil declined

The commodity price index decreased by 0.9 per cent from February to March, mainly due to lower prices of crude oil. In addition electricity prices continued to fall this month.

Prices within oil and gas extraction went down 1.7 per cent from February to March. According to figures from the London Spot Market - the price of crude oil (Brent Blend, measured in NOK) went down 2.3 per cent in this period. Electricity prices dropped 20.3 per cent and are now approaching the level from last November. Manufacturing prices increased 0.8 per cent and dampened the fall in overall prices. Within manufacturing higher prices of refined petroleum products and metals were somewhat counteracted by lower prices of chemicals.

According to the main industrial groupings prices of intermediate goods and capital goods increased, while consumer goods and energy goods showed a decrease in prices.

The 12-month rate: Overall prices up about 5 per cent

The overall 12-month rate (March 2002 - March 2003) went from 11.9 per cent in February to 5.1 per cent in March. The corresponding figures for oil and gas extraction were 19.8 per cent and 5.5 per cent. The same downward development also occurred for manufacturing and electricity. Manufacturing prices are now 1.8 per cent higher than 12 months ago. Higher prices of refined petroleum products and chemicals were the main reasons for the former mentioned development, while decreases occurring in food and metals counteracted this somewhat.

Commodity price index for the industrial sectors. 2000=100
  March 2003 Changes, per cent
  February-March 2003 March 2002-March 2003
Total index  100.84 -0.9 5.1
Oil and gas extraction 91.71 -1.7 5.3
Manufacturing, mining and quarrying  100.33 0.8 1.8
Electricity, gas and steam supply  246.71 -20.3 59.9