Crude oil and petroleum products pulled up the PPI

Published:

11 September 2017

The producer price index (PPI) rose by 0.4 per cent from July to August. This broke a downward trend in the PPI as it went down the previous five months.

Full set of figures
Producer price index

Series archive
Producer price index (archive)

Higher prices on crude oil, petroleum products and extraction services were the main contributors for the rise. The price of natural gas fell slightly and countered some of the increase. Services related to oil and gas extraction went up 3.3 per cent. This was the second month in a row with an increase and the last time the prices within this industry went up two months in a row was in 2015.

Lower prices in food products

The prices within processed sea food fell 3.7 per cent from July to August while prices on beverages went the other direction. The index for food, beverages and tobacco thus fell 1 per cent. The contribution from food products led to a decrease in the manufacturing industry prices as a whole.

Figure 1. Price indices. 2014=100

	PPI excluding energy goods	PPI total
Jan. 2014	98.7	104.9
Feb. 2014	98.8	104.2
March 2014	98.8	101.2
April 2014	99	100.7
May 2014	99.1	99.8
June 2014	99.1	100.2
July 2014	100	99.7
Aug. 2014	100.5	99
Sept. 2014	100.8	99
Oct. 2014	101	98.8
Nov. 2014	101.6	96.1
Dec. 2014	102.7	96.3
Jan. 2015	103.8	91.9
Feb. 2015	104	93.9
March 2015	103.6	95.1
April 2015	103.3	95.1
May 2015	102.9	95.1
June 2015	102.9	95.3
July 2015	103.2	93.1
Aug. 2015	103.3	89.1
Sept. 2015	103.3	89
Oct. 2015	103.2	89.5
Nov. 2015	104.1	89.9
Dec. 2015	104.1	85.9
Jan. 2016	103.8	82
Feb. 2016	103.9	79.9
March 2016	103.9	80.9
April 2016	103.8	81.5
May 2016	103.9	83.7
June 2016	103.8	86.1
July 2016	103.9	86.4
Aug. 2016	104	84.9
Sept. 2016	103	83.6
Oct. 2016	102.3	85.4
Nov. 2016	102.3	87.6
Dec. 2016	102.7	92.1
Jan. 2017	102.9	92.4
Feb. 2017	104	94.9
March 2017	104	93.9
April 2017	104.6	91.9
May 2017	105	91.2
June 2017	104.5	88.9
July 2017	104.6	88
Aug. 2017	104.4	88.3