Price index of first-hand domestic sales, 15 January 2004

Prices of mineral fuels, lubricants and related materials increased by 1.7 per cent from December to January. Prices of petroleum and petroleum products increased by 4.2 per cent, while electricity went down 1.2 per cent. Crude materials increased by 3.0 per cent. Higher prices of metalliferous ores and metal scrap was the main reason for the increase in the last group. Prices of food showed a decrease this month, caused by lower prices of meat and meat preparations and dairy products and eggs. Beverages and tobacco showed an increase by 1.8 per cent. Higher prices of smoking tobacco was the main reason for the increase.

The overall domestic market showed a price increase of 0.5 per cent. The main reason for this increase was higher prices petroleum and petroleum products, machinery and transport equipment and chemicals products.

The 12-month rate, January 2003 to January 2004: 1.9 per cent decrease

The overall 12-month rate showed that prices have decreased by 1.9 per cent the last 12 months. The decrease was mainly due to lower prices of mineral fuels, lubricants and related materials by 13.1 per cent. Prices of petroleum and petroleum products and electric current decreased by 2.1 and 41.2 per cent respectively.

Most of the other main groups showed an increase from January 2003, the exception was animal and vegetable oils, fats and waxes. Crude materials went up 9.0 compared with January last year, caused by higher prices of pulp and waste paper and metalliferous ores and metal scrap. Prices of food increased by 1.0 per cent compared with January 2003.

Updated weights and one decimal from January 2004

Production figures from national accounts are the basis for weight in the indices. Weights for 2004 are now introduced and the results are some shifts in balance between the groups. Compared with the weights for 2003 mineral fuels have become more important, while manufactured goods classified by material and article of food have lost weight.

Starting with the publishing of January figures all indices are 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.