Price index of first-hand domestic sales, 15 February 2000

Despite leading OPEC-members indicating willingness to increase oil production, according to London Spot Markets the average price of crude oil (Brent Blend) increased more than 11 per cent (measured in NOK) from January to February. Together with higher prices of refined oil products, this resulted in an increase of 2.3 per cent in the group mineral fuels, lubricants and related materials. Most of this increase was due to higher prices of imports. The 12-month rate in this group went up from 22.0 to 25.6 per cent.

Increase in prices of food

The prices of food increased for the first time since May last year. The modest rise of 0.2 per cent is for the most part attributable to higher prices of fruit and vegetables. Because of a larger increase in the same period last year, the 12-month rate still went down from minus 1.6 to minus 2.0 per cent.

There were also increases in the other groups, except for the group animal and vegetable oils and fats. The biggest increase came in the group chemicals, where the prices rose by 0.7 per cent.

Grouped according to end use

The prices of consumer goods increased by 0.2 per cent, but the 12-month rate went down from 2.0 to 1.8 per cent. Prices of investment goods rose by 0.1 per cent, bringing the 12-month rate down from 0.6 to 0.5 per cent.