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12721
Increase in Prices of Mineral Fuels
statistikk
1999-10-11T10:00:00.000Z
Prices and price indices
en
pif, Price index of first-hand domestic sales, price trends, inflation, wholesale price index, domestic market, import market, product groups (for example food, chemical products, machines)Producer and wholesale price indices, Prices and price indices
false

Price index of first-hand domestic sales, 15 September 1999

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Increase in Prices of Mineral Fuels

The Price Index of First-hand Domestic Transaction rose 0.4 per cent from August to September, while the 12-month rate (September 1998 to September this year) was 2.3 per cent. Prices of crude oil and oil related products are still the main contributors to the rise.

Mineral fuels, lubricants and related materials showed a 2.1 per cent increase compared with last month. One of the main reasons for this are higher prices of crude oil. London Spot Markets showed an increase in the monthly average on Brent Blend by roughly 11 per cent. Reductions in the US oil deposits and OPEC's successful restrictive production rate caused the average crude oil price in September to reach the highest level yet this year more than 22 dollars a barrel. In addition most of the refined oil products showed an increase.

The rise in the total index was mainly suppressed by falling prices on food. Food dropped 0.5 percent compared with last month. Due to good weather in most of Southern Norway there is a glut on the vegetable marked causing prices to fall. Furthermore, there has been a decline in prices on cattle and sheep. However, processed meat showed an increase thereby making the drop in food somewhat smaller. Reduced prices of mainly coffee from import contributed to the drop in food products.

Most of the other main groups in the total index showed an increase from August to September. Machinery and transport equipment was an exception. This group fell 0.2 per cent due to falling prices on imports.

According to end use the price of consumer goods increased by 0.2 per cent compared with the August prices. The 12-month rate increased to 1,9 per cent.

Price index of first-hand domestic transactions. 1981=100
  September 1999 Changes, per cent
  August 1999-September 1999 September 1998-September 1999 January-September 1998-
January-September 1999
Total index 177,0 0,4 2,3 1,2
Food 176,6 -0,5 -1,5 -0,3
Beverages and tobacco 269,3 1,7 7,2 5,9
Crude materials, inedible, except fuels 156,2 0,7 1,6 -0,4
Mineral fuels, lubricants and related materials 163,0 2,1 11,6 3,1
Animal and vegetable oils and fats 179,9 -1,5 -1,3 2,6
Chemicals 168,1 1,4 1,2 1,0
Manufactured goods classified chiefly by material 175,7 - -0,3 0,1
Machinery and transport equipment 183,6 -0,2 1,9 1,9
Miscellaneous manufactured articles 194,3 0,2 1,6 1,2