From July last year to July this year, prices of manufactured goods sold abroad increased by just over 6 per cent, according to statistics published by Statistics Norway. From June last year to June this year, the rise in prices for similar goods was 2.7 per cent. The twelve-month growth increased markedly from June to July, both in the petroleum and basic metal industries.
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This is the largest year-to-year rise in prices of exported manufactured goods since February last year. However, it is relatively low when we compare it with the period May 2021 to December 2022, when we had inflation of up to 50 per cent in some months, says Espen Kristiansen.
Norwegian metal prices continued to rise
The prices that Norwegian producers of metals received for their goods rose by 1.4 per cent from June to July. This was the fifth month in a row with an increase in metal prices.
Metal prices have fluctuated a lot in recent years. At the end of last year and well into 2024, they levelled off, but since February we have seen a fairly strong rise again, says head of section of price statistics, Espen Kristiansen.
Table: Statistics Norway
More information:
Statistics Norway
www.ssb.no