Price index of first-hand domestic sales, 15 May 2007

Prices of crude materials, except fuels, increased. In this group the prices of woods, minerals and metalliferous ores continue up this month. Compared to May 2006, prices of metalliferous ores rose 70.8 per cent. According to London Metal Exchange the price of nickel has risen about 146 per cent over the past year.

Prices of petroleum products continued to grow slightly, 1.1 per cent from April to May. But the twelve month rate was still negative, down 4.4 per cent since May 2006. Electricity prices decreased; the Nordpool system price for May was at the lowest level since August 2002.

Food prices fell 0.2 per cent, due to falling prices on fish and cereals. The prices of both cereals and foods in general were still higher than in May 2006, while prices of vegetables were 6.6 per cent lower. Prices of coffee, tea and spices decreased 0.2 per cent last month.

The price index related to chemical products increased by 0.9 per cent. In particular the organic chemicals became more expensive the last month. Manufactured goods went up 0.6 per cent, cork and lumber in particular. Prices within this group have grown 9.1 per cent since May 2006, and have risen consecutively for 8 months.

Norwegian producers - up 0.2 percent

Price index of first-hand domestic sales concerning the domestic production showed a price increase of 0.1 per cent from April to May 2007. The Norwegian producers of wood saw their prices go up additionally. These prices are now 22.7 per cent higher than May 2006. Prices of minerals increased as well and are up 2.9 per cent compared to the April level. The last twelve months domestically produced mineral and fertilizer showed a price increase of 6.5 per cent.

The twelve month rate related to the domestic production in total showed a decrease of 1.9 per cent. The price of electricity is the main contributor to the decrease, since may 2007 electricity prices have decreased by 38.7 per cent.