Commodity price index for the industrial sector (discontinued), 15 May 2001

The 12-month rate went from 9.8 per cent in April to 4.6 per cent in May. All main groups had a poorer growth in the 12-month rate this month with the exception of electricity.

The commodity price index rose by 6.0 per cent after 2.2 per cent last month. The reason for this increase was mainly higher prices of oil. At London Spot Market (LSM) crude oil increased by nearly 12 per cent. A modest price increase in manufacturing was also recorded, whereas the prices of electricity fell by 5.9 per cent.

A rise in prices of petroleum products and basic metals, mainly non-ferrous metals, was the most important factor for the 0.9 per cent increase within manufacturing. The prices of petroleum products often follow the price of crude oil, and at the LSM unleaded petrol went up almost 9 per cent. The group refined petroleum products went from a 2.2 per cent increase in April to 5 per cent in May, while basic metals went from a negative 1.4 per cent to a 3.2 per cent increase. Prices of chemicals and pulp, paper and paper products pulled in the opposite direction.

Among the main industrial groupings energy goods went up 9.3 per cent, while intermediate goods rose 0.9 per cent.