Price index of first-hand domestic sales, 15 May 2001

The 12-month rate (May 2000 - May 2001) for the total index ended on 5.0 per cent, a decline from 7.1 per cent last month.

The price development from April to May

In this period an increase in prices was registered in almost all the main groups. The largest rise came in the group mineral fuels, lubricants and related material, where the prices increased by 5.6 per cent from April to May. This increase was due to the 8.6 per cent rise in the prices of petroleum and petroleum products, while the prices of electricity fell during this period. In the group crude materials, inedible, except fuels, the prices increased by 0.8 per cent, mostly due to higher prices of metalliferous ores and metal scrap. The prices of manufactured goods classified by material increased by 0.5 per cent, while in the group food and live animals prices rose by 0.3 per cent. For the other main groups there were only minor increases.

12-month change

Almost all the main groups have a positive 12-month rate. An exception is the group beverages and tobacco, where the prices have decreased slightly the last year. The largest 12-month change came in the group mineral fuels, lubricants and related material, where the prices have increased by 6.6 per cent the last year. Another group with a relatively high 12-month rate is food and live animals, with a price increase of 6.4 per cent the last 12 months. In the other groups the 12-month rate was about three per cent, with an exception of miscellaneous manufactured goods, where the growth was somewhat lower.

The development of the 12-month rate

All main groups except the group food and live animals had a decline in the 12-month rate from April to May. The 12-month rate for the total index went down from 7.1 per cent to 5.0 per cent. The largest contribution came from the group mineral fuels, lubricants and related material, where the 12-month rate went down from 17.8 to 6.6 per cent from April to May. Once again, petroleum and petroleum products contributed the most, and the 12-month rate went down despite the fact that the index for the group rose by 5.6 per cent in the same period. The main reason for this was a large fall in the price of crude oil last April, combined with an even larger increase the following month.

The only main group with an increasing 12-month rate is food and live animals, with an increase of 5.8 per cent in April to 6.4 per cent in May. Here, the 12-month rate has increased every month since January.