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

The price index of first-hand domestic sales rose by 3.2 per cent from October to November. Prices on mineral fuel, lubricants and electricity rose by 15.0 per cent. Both prices of electricity and petroleum products continued to rise in November. Prices on petroleum products increased, mainly due to higher oil prices. According to the London Spot Market, the price of oil increased from 447.97 to 503.43 NOK.

Decline in the price of fish

Prices of food products fell from October to November, partly due to a drop in the prices of fish, vegetables, fruit and sugar. The prices of fish in particular showed a significant decline in November, down 5.2 per cent. The fall in the prices of salmon and coalfish, the global financial crises and financial problems in the USA this autumn explains much of the drop in the prices of fish. Prices of other food products such as meat, dairy products, grain, coffee and feeding stuff for animals increased this month.

Due to higher prices of metalliferous ores and metal scrap, prices of raw material increased by 1.4 per cent. Prices on machinery and transport equipment were unchanged because of lower prices on computers and electrical machinery, while higher prices of cars balanced this development.

Prices in the domestic marked increased by 4.8 per cent, due to higher prices of energy goods. This explanation is similar as for last month.

The 12-month rate: price growth 4.9 per cent

From November 2006 to November 2007, the price index of first-hand domestic sales increased by 4.9 per cent. The increase was mainly due to higher prices in all groups, except miscellaneous manufactured articles. In this group, prices of clothing and furniture decreased, while the rise in prices of shoes counteracted this development. Prices of machinery and transport equipment were unchanged. In this group, a significant fall in the price for data processing machines, down 10.1 per cent, was counteracted by the 4.4 per cent increase in the prices of cars. Prices of mineral fuels, lubricants and electricity have increased since last year, due to higher prices on petroleum products, coal and electricity.

New method for cars

A new method for price information for cars was implemented in September 2007. For more information, see About the statistics, http://www.ssb.no/pif