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

The main cause for a 0.4 per cent decrease in the total index was a 0.9 per cent decline in prices of mineral fuels, lubricants and related materials. This was mainly due to prices of petroleum and petroleum products going down 0.8 per cent. A fall in gasoline prices was to some degree dampened by higher prices of other petroleum products. Figures from London Spot Markets showed a 19 per cent drop in the price of unleaded gasoline (measured in NOK). Prices of manufactured goods classified by material went down 0.5 per cent, due to lower prices of metals as well as of paper- and wood products. Reduced prices of crude materials were also a contributing factor to the decline in the total index.

The 12-month rate, June 2000 - June 2001

The overall 12-month rate was 2.7 per cent this month. During this period prices of food went up by 4.8 per cent, while prices of machinery and transport equipment increased 3.6 per cent. Crude materials was the only major group where prices went down. This decline was mainly caused by lower prices of metalliferous ores and metal scrap, in addition to a decrease in prices of pulp and waste paper.

Changes in the 12-month rate

The 12-month rate in the total index went from 5.0 per cent in May to 2.7 per cent in June. The decline can to a great degree be attributed to lower prices of mineral fuels, lubricants and related materials. The 12-month rate of this latter group went from 6.6 per cent to 1.2 per cent. The corresponding figures for the group containing the crude materials were 3.4 per cent and -2.6 per cent.