Price index of first-hand domestic sales, 15 December 2003

Prices of mineral fuels, lubricants and related materials decreased by 2.4 per cent from November to December. Prices of electricity and petroleum and petroleum products decreased by 9.2 and 2.3 per cent respectively. According to the Nordpool Spot Market - prices of electricity decreased from 297.48 NOK/Mwh in November to 255.80 NOK/Mwh in December. Mild weather and satisfactory levels in the water depots was the main reason for the drop in electricity prices. Prices of food decreased by 0.5 per cent, caused by lower prices of fish, meat, fruit and vegetables. Chemicals and related products and crude materials increased by 0.2 and 0.1 per cent respectively.

The overall domestic market showed a price decrease of 0.7 per cent. The main reason for this decrease was lower prices of mineral fuels, lubricants and related materials. Prices of food showed a decrease as well.

The 12-month rate, December 2002 to December 2003: 0.6 per cent decrease

The overall 12-month rate prices decreased by 0.6 per cent the last 12 months. The decrease was mainly due to lower prices of mineral fuels, lubricants and related materials by 7.1 per cent. Prices of petroleum and petroleum products and electric current decreased by 0.1 and 28.9 per cent respectively. Most of the main groups showed an increase from December 2002, the exceptions were animal and vegetable oils, fats and waxes. Crude materials and food went up 5.0 and 0.9 per cent, compared with December last year.

One decimal from January 2004

Starting with the publishing of January figures all indices will be produced with one decimal. Two decimals have a tendency to give an exaggerated impression of the accuracy of the estimates. In addition we want to harmonize the indices with common practice - where one decimal is used.