Price index of first-hand domestic sales, 15 September 2011

The decline in the overall PIF from August to September 2011 was a moderate 0.1 per cent. Falling prices of electricity and metals were the two most important reasons why the price index of first-hand domestic sales had a small decline. Increasing prices of petroleum and petroleum products, chemicals and related products as well as food, however, played a noticeable role in dampening the decrease in the overall PIF.

Prices of electricity have fallen all previous months in 2011, continuing with a sharp fall of 13 per cent from August to September. A decline of 2.2 per cent in prices of crude materials (inedible, except fuels) was partly explained by decreasing import prices of metalliferous ores and pulp. Prices of manufactured goods decreased by 0.5 per cent, largely because of iron and steel prices, which fell 2.1 per cent.

Twelve-month change: prices up 4 per cent

PIF rose 4 per cent from September 2010 to September 2011. The main contribution came from higher prices of petroleum and petroleum products, where prices were more than 30 per cent higher in September this year than September last year. Other important reasons for the twelve-month growth were prices of chemicals and related products as well as food, as they experienced a price rise of 4.3 and 1.6 per cent respectively.