NEWS RELEASE PRICES 29 JANUARY 2009

The producer price index (PPI) in December 2008 was 183.0 points (4. quarter 2005 = 100), 7.1% lower than in the previous month. The PPI for fish products was 232.5 points which is 6.4% lower than in November (effect on the index -2.0%) and the PPI for power intensive industry products was 207.5 points, 18.5% lower (-5.4%). The PPI for food products was 2.8% higher than in November (0.4%) and the PPI for other manufactured products decreased by 0.6% (-0.1%).

The PPI for domestically sold products was 2.1% higher than in the previous month
(0.7%) while the index for exported products decreased 11.7% (-7.8%).

From December 2007 the PPI has increased 53.2%. The PPI for fish products has increased 77.3% and the PPI for power intensive industry products has risen 56.8%. In the same period the PPI for food products rose 25.7%.

Monthly changes (%)
Marine Power intensive Food  Domestic Exported
  PPI products industry products production sales products
2007
December 2.2 2.0 4.6 0.1 0.5 3.2
2008
January 2.0 3.1 -0.8 1.4 2.9 1.5
February 3.1 3.1 6.0 0.6 1.4 4.1
March 9.2 12.6 20.8 1.0 -0.9 15.1
April 6.3 3.2 11.7 6.3 6.7 6.1
May 1.1 -0.4 0.4 1.4 2.5 0.4
June 3.7 7.4 3.4 0.2 0.4 5.6
July 2.4 -0.3 1.9 0.4 3.1 2.0
August 1.9 0.2 7.8 0.6 0.3 2.8
September 3.9 8.6 1.4 1.5 1.2 5.4
October 12.7 20.3 14.7 3.4 3.1 17.8
November 5.4 9.9 2.2 3.7 2.7 6.8
December -7.1 -6.4 -18.5 2.8 2.1 -11.7

Annual changes (%)
Marine Power intensive Food  Domestic Exported
  PPI products industry products production sales products
2007
December -4.2 0.7 -12.6 3.6 -0.2 -6.6
2008
January -3.1 3.4 -16.8 4.3 2.5 -6.4
February 3.1 10.5 -8.4 4.1 4.2 2.4
March 12.5 24.8 10.3 5.6 2.5 18.3
April 20.3 28.3 27.8 12.1 9.2 26.6
May 24.7 33.4 29.9 13.7 12.5 31.7
June 29.5 44.7 36.1 14.1 12.0 40.1
July 35.7 44.3 48.3 14.4 16.8 47.4
August 31.9 36.7 46.4 15.2 16.3 41.1
September 39.6 47.3 62.0 15.9 17.8 53.1
October 61.4 80.4 101.5 19.2 21.5 87.9
November 68.5 93.1 101.2 22.4 26.3 96.1
December 53.2 77.3 56.8 25.7 28.3 67.8

The average of the PPI in 2008 was 156.7 points, 31.0% higher than in 2007. The equivalent rise between 2006 and 2007 was 1.8%.

In evaluating the price changes accounted for here, it may be taken into consideration that the trade-weighted average price of foreign exchange in December 2008 was 5.9% lower than in the preceding month whereas it was 79.5% higher than in December 2007.

Statistics

Further Information

For further information please contact 528 1100 , email upplysingar@hagstofa.is

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