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

Despite OPEC's reassurance that they will try to lower prices of oil, the London Spot Markets showed a good 2.5 per cent increase of Brent Blend from May to June, while the price of unleaded gasoline increased by about 10 per cent (measured in NOK). Due to the price increase of mineral oil and mineral oil products, the group mineral fuels, mineral oil and electric power rose by 1 per cent from May to June and 16 per cent compared with June 1999.

The prices in the group of inedible crude materials excluding fuels increased by 2 per cent, making it the second most important contributor to the rise in the total index. The 12-month rate in this group increased from 8.4 per cent in May to 10.7 per cent in June. The last month's changes were mainly due to a price increase in the group metalliferous ores.

The prices in the group manufactured goods classified chiefly by material increased by 0.3 per cent from May this year and 3.4 per cent compared with June last year. The 12-month rate in May was 3.0 per cent. The development in the import market, especially for non-ferrous metals within this market contributed the most.

There were only minor changes in the groups not mentioned above.

End-use

The prices of goods for consumption increased by 0.2 per cent from Mai to June, while the 12- month rate was 2.1 per cent. The 12-month rate for investment goods was 1 per cent, the same as in May.