Price index of first-hand domestic sales, 15 November 2009

After two months of decline, PIF increased 0.8 per cent from October to November. The increase was mainly caused by higher prices on petroleum and petroleum products together with electricity, which increased 4.4 and 8.3 per cent respectively. The rise in the prices of petroleum and petroleum products is primarily associated with a 6 per cent increase in the price of crude oil from October to November. In addition, prices of manufactured goods increased somewhat, mainly caused by a price increase of 2.7 per cent for metals, except iron and steel.

Declining prices of machinery and transport equipment

Aside from energy products, PIF showed a decline from October to November. An important reason for this is lower prices for machinery and transport equipment. The decrease is due to lower prices in most subgroups, but especially office machinery and data processing equipment caused the decline. With the exception of an increase from June to July, prices of machinery and transport equipment have declined since January this year, with a total fall of 2.9 per cent in this period.

Prices of food and live animals also decreased from October to November. The decline of 0.5 per cent was partly due to 2.9 per cent lower prices of fish.

Twelve month change: 0.2 per cent higher prices

From November 2008 to November 2009 the price index for first-hand domestic sales increased by 0.2 per cent. This increase comes from higher prices of food and live animals together with petroleum and petroleum products. Prices of petroleum and petroleum products, which experienced a sharp decline last autumn, have grown by 8 per cent since November last year. This is due to a rise in prices over the last two months as well as a rise from February to June this year.

Despite the increase in electricity prices in the last two months, prices are down about 32 per cent compared with November last year.