Price index of first-hand domestic sales, 15 July 2005

The instability in the world's political environment continued to influence the prices of petroleum. In addition the Norwegian electricity prices increased 10.1 per cent (NordPool monthly average) due to less precipitations in the beginning of July. Food prices increased by 1.0 per cent the last month. Diary products and fish were the groups that contributed most to the increase. The prices on imported fruits and vegetables increased more than prices of the domestic production, this probably due to the seasonal changes in Norwegian import duty. Beverage prices increased as well.

Crude materials except fuels increased slightly, by 0.5 per cent. Chemicals and related products decreased by 0.4 percent, for the second consecutive month. Prices of organic chemicals increased by 3.0 per cent, while medicinal and pharmaceutical products, and plastics in primary forms decreased. Several prices in the subgroups under machinery and transport equipment decreased last month.

The prices of domestic production increased by 2.1 per cent in July. Prices in most groups increased, except crude materials, chemical products and miscellaneous manufactured articles. Crude rubber, plastic in primary forms, iron and steel and professional and scientific instruments decreased the most. In addition the domestic grown fruit and vegetable prices decreased as a result seasonal variation in supply.

The 12-month rate, July 2004 to July 2005: 4.4 per cent increase

Over the last year the price index increased by 4.4 per cent. The energy prices increased with 23.7 per cent from July 2004 to July 2005. The prices of petroleum contributed to this with a 37.1 per cent increase. The majority of the prices of other products increased slightly. The pharmaceutical products decreased 8.7 per cent over the last twelve months. Some of the subgroups related to machinery and transport equipment decreased as well.

Domestic prices increased 6.5 per cent. The petroleum price influences the domestic part of the price index of first-hand domestic sales. Prices of mineral fuels, lubricants and related materials have increased by 22 per cent since July 2004.