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Producer prices up 0.6 per cent
statistikk
2000-09-11T10:00:00.000Z
Prices and price indices;National accounts and business cycles;Energy and manufacturing
en
ppi, Producer price index, price trends, inflation, domestic market, export market, economic indicator, intermediate goods, energy goods, consumables, capital goods, metal-working industry, food industry, oil refining, machine industry, mining, metal prices (for example gold, aluminium, copper)Producer 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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Producer price index, 15 August 2000

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Producer prices up 0.6 per cent

After a slight decline last month, the producer price index rose by 0.6 per cent from July to August. The largest increase occurred in oil extraction, mining and quarrying, but manufacturing prices increased as well. The 12-month rate (August 1999 - August 2000) remained stable at 6.4 per cent.

The price of Brent Blend increased in August, and according to the London Spot Markets the price increase from July to August was 6 per cent (average price measured in NOK). Reports on decreasing US oil stocks along with contradictory signals prior to the OPEC-meeting in September are probably the reasons for this rise. Together with a slight increase in mining and quarrying, this produced a 2.9 rise in the index for oil extraction, mining and quarrying from July to August. The 12-month rate went up from 25.6 to 27.4 per cent.

Prices of wood and paper up

Wood and wood products showed the largest price increase in manufacturing. Higher prices in the domestic market were the main contributing factor behind a 1.6 per cent rise. In the group paper and paper products, printing and publishing, the prices increased by 0.7 per cent - mainly due to higher export prices. Other groups showing an increase were basic metals, where the index rose by 1 per cent, and fabricated metal products, machinery and equipment, with an increase of 0.2 per cent.

Food prices somewhat down

In the most influential group food, beverages and tobacco the prices went down by 0.2 per cent. This was entirely due to a decrease in prices of food, while the prices of beverages and tobacco remained stable. There was also a minor decrease of 0.1 per cent in the group chemicals and chemical petroleum, coal, rubber and plastic products.

The overall increase in manufacturing prices from July to August was 0.3 per cent. Thereby the 12-month rate went down from 4.8 to 4.5 per cent.

Producer price index. 1981=100
  August
2000 		Changes, per cent
  July 2000-
August 2000 		August 1999-
August 2000 		January-August 1999 -
January-August 2000
Total index 179,7 0,6 6,4 7,4
Oil extraction, mining and quarrying 140,3 2,9 27,4 40,7
Manufacturing 183,4 0,3 4,5 4,6
Manufacture of food, beverages and tobacco 205,2 -0,2 1,1 0,1
Manufacture of textiles, wearing apparel, leather and leather products 160,4 - 0,9 0,6
Manufacture of wood and wood products 193,4 1,6 3,5 2,4
Manufacture of paper and paper products, printing and publishing 210,9 0,7 4,4 4,1
Manufacture of chemicals and chemical petroleum, coal, rubber and
plastic products 		151,9 -0,1 13,4 17,8
Manufacture of mineral products 218,3 - 1,3 1,4
Manufacture of basic metals 147,5 1,0 9,1 9,3
Manufacture of fabricated metal products, machinery and equipment 192,9 0,2 2,0 1,6