The Producer Price Index (PPI)¹ for the 2nd quarter of 2006 is 118.8 points, 11.5% higher than in the previous quarter. The PPI for fish products is 120.4 points, 14.8% higher than in the previous quarter (effect on the index 5.9%). The PPI for other manufacturing products is 117.8 points, 9.3% higher (5.6%) than in the previous quarter.

The PPI for domestically sold products is at 103.6 points, 2.3% higher (0.9%) and the index for exported products is 128.2 points, 17.1% higher (10.6%) than in the previous quarter. The PPI for exported products, excluding fish products, is 142.6 points, 21.1% higher than in the previous quarter (4,7%).

Meanwhile, the consumer price index rose by 3.3%, the wage index rose by 1.6% and the average price of foreign currency rose by 17.0%.

Since the 2nd quarter of 2005 the PPI has increased by 17.9%, the PPI for fish products rose by 20.6% and the PPI for other manufacturing products rose by 16.1%.

Weights for the PPI are revised annually and the update is now based on Statistics Iceland’s PRODCOM survey for the year 2005. As of the 1st quarter of 2006 a superlative (Fisher) method is adopted for the calculation at the aggregate level as well as at the elementary level. The weights at the aggregate level are based on the value of sold production in the years 2004 and 2005.

¹ The PPI covers NACE Rev. 1 (ÍSAT95) sections C and D with the exception of groups 22.1, 35.1 and 35.3.