The producer price index (PPI) increased by 1.2% between July and August 2017. Prices of marine products increased by 3.3% (effect on the index 0.9%), prices of power intensive industry products increased by 2.4% (0.8%), prices for other industry decreased by 2.2% (-0.4%) and food prices decreased by 0.3% (-0.1%).
Compared with August 2016, the PPI has decreased by 6.0%. Thereof prices of marine products have decreased by 4.9% and other industry decreased by 21.7%. Prices of power intensive industry products has increased by 3.5% but prices of food decreased by 2.5% in the same period. When taken into consideration if the products are exported or sold domestically, exported products have decreased in price by 3.7% in one year, but products sold domestically have decreased by 10.3%.
Base weights for the PPI are revised annually and are as of September 2017 based on Statistics Iceland’s data on production values from 2015 and 2016.
Changes, effects on the index and index level for subgroups are shown in the table below.
|Producer Price Index in August 2017|
|4. quarter 2005 = 100||%||index %||changes %|
|Producer Price Index (PPI)||186.7||1.2||1.2||-6.0|
|Power intensive industry products||181.4||2.4||0.8||3.5|
|Other manufacturing industry||138.0||-2.2||-0.5||-21.7|