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Weekly Bulletin issue no. 28-29, 1998 The Producer Price Index, as per 15 June 1998:

The Producer Price Index, as per 15 June 1998:

Decline in producer prices

The producer price index dropped from 163.1 in May to 162.3 in June, a fall of 0.5 percent. Lower prices for crude oil and natural gas contributed most to the reduction. From June 1997 to June 1998 the prices increased by 0.9 percent after a 1.5 percent increase from May to May.
The price of crude oil (Brent Blend) dropped from around USD 14.50 per barrel in May to about USD 12.40 per barrel in June, a decline of 14.6 percent. Converted to Norwegian currency, the June price amounts to a little over NOK 93. The group oil and gas extraction and mining and quarrying underwent a decline of 4.3 percent from May to June, while the twelve month increase from June 1997 to June 1998 fell by 1.4 percent.

The producer prices for manufacturing also underwent a decline - of 0.1 percent - from May to June. The most important individual factor in this case was the price drop for metals. In addition, the drop in prices for the production of chemicals and chemical petroleum, coal, rubber and plastic products also contributed to the decline. In the last twelve months the producer prices in manufacturing have undergone a growth of 1.4 percent.

New Statistics

The producer price index, as per 15 June 1998.
The statistics are published monthly in the Weekly Bulletin of Statistics. For more information and e-mail, contact: erik.skauen@ssb.no, tel. +47 21 09 48 91.

Weekly Bulletin issue no. 28-29, 1998