Norway Producer Price Index (PPI) y/y

Norway's Producer Price Index y/y reflects the dynamics of prices for goods produced and sold by Norwegian companies domestically and in foreign markets. The index measures a change in prices from the producer perspective, in the given month compared to the same month a year ago. The index is published by Statistics Norway (SSB) on the 10th of every month.

The statistics cover manufacturing, oil and gas production, energy, mining and some services. The index covers goods, which are delivered as final products to retail trade, are subject to investment, or are transferred to other production sectors as intermediates.

The main data source is a survey of producers, in which they report prices for a sample of 630 product groups. The questionnaire is sent on a monthly basis to about 1300 companies which provide data on prices for about 5000 goods. Companies with less than 100 employees are excluded from calculation. The filled questionnaire is submitted by email.

The Producer Price Index is considered as a leading indicator of consumer prices, and hence of the inflation. It is a more accurate preliminary indicator, if compared to CPI: if producer prices grow, consumer prices are expected to grow accordingly. These two indicators are closely correlated.

Producer prices are a leading indicator of consumer price inflation, and therefore the CPI growth can be seen as positive for the Norwegian krone quotes.