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12781
Price increase in electricity and metals
statistikk
2010-03-10T10:00:00.000Z
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 February 2010

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Price increase in electricity and metals

The Producer price index rose by 2.1 per cent from January to February, mainly caused by higher electricity prices. Within manufacturing, prices rose by 0. 7 per cent, with the price increase in the metal industry being the most important.

Price development for selected product groups. 2000=100

The producer price index for extraction, mining, manufacturing and electricity (PPI) increased as a result of a sharp rise in electricity prices from January to February. The rise in electricity prices is a result of a higher system price in Nord Pool, in addition to increased prices for electricity sold to households.

Prices up 0.7 per cent in manufacturing

In recent months, prices within manufacturing have been characterised by moderate changes with the exception of metals together with refined petroleum products, where prices have increased. As in January, prices grew in both these industries. 2.4 per cent higher prices for basic metals constituted the most important contribution to the overall increase in prices for manufacturing.

As in the previous month, the price development in the export market was the most important for the overall price growth in manufacturing. Refined petroleum products, chemicals and pharmaceutical products experienced a fall in prices in the domestic market, while prices increased in the export market for these two groups.

Twelve month change: Higher producer prices

The producer price index increased almost 19 per cent from February last year to February this year. This was due to rising prices within extraction of oil and natural gas as well as electricity.

Prices within manufacturing as a whole grew 8.1 per cent over the last twelve months. In several manufacturing industries, prices remained at about the same levels compared to February last year. The price trend for manufacturing is thus driven by the sharp increase in prices for refined petroleum products and basic metals, up 32.9 and 12.4 per cent respectively. The growth in prices for these two industries can be seen as a return from their low levels following the drop in demand in late 2008 and early 2009. Prices of basic metals have experienced a continuous increase since April, with the exception of a one month decrease.

Producer price index. 2000=100
  February 2010 Changes, per cent
  January 2010-February 2010 February 2009-February 2010
Total index  193.2 2.1 18.8
       
Extraction of oil and natural gas  244.8 1.7 29.5
Manufacturing, mining and quarrying  140.8 0.7 7.8
Electricity, gas and steam supply  388.9 21.7 37.7
       
Main industrial groupings      
Intermediate goods  133.7 1.1 2.1
Investment goods  125.8 0.7 0.2
Consumer goods  123.8 0.3 1.6
Energy goods  245.9 3.1 31.7

For information on the commodity price index for the industrial sectors, see http://www.ssb.no/vppi_en