Price index of first-hand domestic sales, 15 April 2010

The price growth in mineral oil and petroleum products made up the most important contribution to the overall increase in PIF from March to April. The average price of crude oil (Brent Blend measured in NOK) which has risen since December of last year, has risen by 6.5 per cent from the previous month.

Prices of crude materials, inedible, except fuels rose 7.7 per cent from March to April. The sharp price increase for this commodity group was mainly caused by higher prices for metalliferous ores and metal scrap.

Prices of electricity fell by 8.6 per cent from March to April and thus moderated the overall increase in PIF. The system price in Nord Pool dropped 18.7 per cent from March to April, and together with lower prices of electricity sold to households, caused the decline in the overall index for electricity prices.

Prices in machinery and transport equipment, which have mainly been characterised by declining prices since the beginning of 2009, continued this trend with a decline of 0.4 per cent from March to April.

Twelve-month growth: Prices up 8 per cent since March 2009

PIF increased by 8 per cent from April 2009 to April 2010. This twelve-month period is characterised by some differences in the price development across the various product groups. Two important contributions to the twelve-month change came from higher prices in mineral fuels, lubricants and related materials together with crude materials. The other product groups are characterised by a more moderate price development.

Prices of food and live animals increased 4.5 per cent in this twelve-month period. This increase was caused by 13.8 higher prices in fish and fish products among others.