199126_not-searchable
/en/priser-og-prisindekser/statistikker/ppi/maaned
199126
Fourth month with higher electricity prices
statistikk
2015-12-10T10:00:00.000Z
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
false
The producer price index (PPI) measures price changes for oil and gas, manufacturing, mining and electricity. The PPI decreased by 0.5 per cent from October to November 2015.

Producer price index, November 2015

Content

Published:

This is an archived release.

Go to latest release

Fourth month with higher electricity prices

The producer price index for oil and gas, manufacturing, mining and electricity (PPI) increased by 0.5 per cent from October to November. Higher electricity prices were the main reason for the increase in the total PPI.

Producer price index. 2000=100Published 10 December 2015
Industrial ClassificationIndex change in per centIndexWeights1
October 2015 - November 2015November 2014 - November 2015
1The weights are updated annually, and are valid for the entire year.
Extraction, mining, manufacturing and electricity0.5-6.4219.61 000.0
 
Extraction and related services-0.5-12.4293.4460.7
Mining and quarrying-0.65.7176.59.0
Manufacturing0.6-1.5159.1488.6
Food products0.96.3169.899.6
Refined petroleum products-1.2-21.5170.686.9
Basic metals-0.7-2.9180.139.1
Machinery and equipment4.82.2160.352.8
Electricity, gas and steam9.7-2.0225.241.7

Source: Statistics Norway

The index for electricity reached a very low level in July this year, but since then, the electricity prices have increased every month. From October to November, the electricity prices rose by 9.7 per cent. The price of electricity has now returned to about the same level as in January 2015. Both the spot price from Nord Pool and electricity sold to Norwegian households increased by between 12 and 13 per cent from October to November.

Higher price on herring

From October to November, prices within manufacturing increased by 0.6 per cent. Prices rose partly because of higher prices within the food industry, in particular on exported fish due to different kinds of herring. A significant part of the Norwegian fish export consists of herring, with Russia, Ukraine and Germany as major importers. Ukraine and Russia consume more herring during the Christmas and New Year period, and this may affect the demand and thus prices.

Higher prices within manufacturing were also seen in fabricated metal products as well as machinery and transport equipment. Prices within fabricated metals increased by 1.9 per cent.

Lower prices on oil, gas and basic metals

The index on extraction of oil and natural gas fell by 0.8 per cent from October to November, and dampened the overall rise in the PPI. The price on crude oil, Brent blend and natural gas decreased during the period, with Brent blend falling by 1.8 per cent. Prices on refined petroleum products also fell from October to November.

Prices on basic metals fell for the eighth consecutive month in November. In the export market, where the price drop was most noticeable, there was a decline in prices for most metals, including zinc and copper.