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Price rise in electricity and natural gas
statistikk
2016-12-09T08:00:00.000Z
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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The producer price index (PPI) measures price changes for oil and gas, manufacturing, mining and electricity. The PPI rose by 2.5 per cent from October to November 2016.

Producer price index, November 2016

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Price rise in electricity and natural gas

The PPI rose 2.5 per cent from October to November. The rise was to a large extent caused by higher prices of electricity and natural gas.

Producer price index. 2000=100Published 9 December 2016
Industrial ClassificationIndex change in per centIndexWeights1
October 2016 - November 2016November 2015 - November 2016
1The weights are updated annually, and are valid for the entire year.
Extraction, mining, manufacturing and electricity2.5-2.6214.01 000.0
 
Extraction and related services3.1-12.8255.8405.4
Mining and quarrying0.2-0.7175.27.6
Manufacturing0.81.5161.5544.6
Food products0.35.8179.7117.0
Refined petroleum products3.84.6178.579.1
Basic metals2.50.9181.845.7
Machinery and equipment0.0-1.1158.659.2
Electricity, gas and steam14.845.7328.142.4

Source: Statistics Norway

The prices of crude oil and natural gas increased by 4.1 per cent and contributed strongly to the total rise in the PPI from October to November. The price of natural gas increased, while the oil price fell by 6 per cent, following a rise of 6.9 per cent the month before. 

Electricity prices continue to rise

The prices of electricity rose 14.8 per cent from October to November. This was the second month in a row with an increase, and the rise over the last two months was 36 per cent. 

Higher prices within manufacturing

The manufacturing prices increased by 0.8 per cent from October to November. This must be seen in context with higher prices of refined petroleum products in addition to basic metals. 

Within the extraction services, prices fell by 2.4 per cent. This dampened the total rise in the PPI from last month. From November 2015 to November 2016, prices of extraction services fell by almost 20 per cent. This can be explained by an oversupply of rigs and boats in the market. As a consequence, day rates of rigs and rental prices of boats have decreased during the last twelve months.