Producer Prices Index: Economic Activities: Mining and Quarrying Activities: Domestic for Norway
PIEAMI02NOM661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
186.30
Year-over-Year Change
10.70%
Date Range
1/1/1981 - 1/1/2023
Summary
The Producer Prices Index (PPI) for Mining and Quarrying Activities in Norway measures price changes for goods and services produced in the domestic mining and quarrying industry. This index is a key indicator of inflationary pressures and production costs in the Norwegian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The PPI for Mining and Quarrying Activities tracks the wholesale prices received by producers in Norway's mining and extraction sector, including crude oil, natural gas, and various mined materials. This index is used by economists and policymakers to analyze trends in production costs, industry profitability, and potential inflationary impacts.
Methodology
The data is collected through surveys of Norwegian mining and quarrying companies by Statistics Norway.
Historical Context
The PPI is monitored by the Norwegian Central Bank and government agencies to inform monetary and fiscal policy decisions.
Key Facts
- The base year for the Norway PPI is 2015 = 100.
- Mining and quarrying account for over 10% of Norway's GDP.
- Norway is a major global producer of oil, gas, and various minerals.
FAQs
Q: What does this economic trend measure?
A: The Producer Prices Index (PPI) for Mining and Quarrying Activities in Norway measures price changes for goods and services produced in the domestic mining and extraction industry.
Q: Why is this trend relevant for users or analysts?
A: The PPI is a key indicator of inflationary pressures and production costs in the Norwegian economy, providing insights into industry profitability and the potential for price increases to be passed on to consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Norwegian mining and quarrying companies by Statistics Norway.
Q: How is this trend used in economic policy?
A: The PPI is monitored by the Norwegian Central Bank and government agencies to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The PPI data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Producer Prices Index: Economic Activities: Mining and Quarrying Activities: Domestic for Norway (PIEAMI02NOM661N), retrieved from FRED.