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Price decrease in energy products
statistikk
2013-06-10T10:00:00.000Z
Prices and price indices
en
pif, Price index of first-hand domestic sales, price trends, inflation, wholesale price index, domestic market, import market, product groups (for example food, chemical products, machines)Producer and wholesale price indices, Prices and price indices
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Price index of first-hand domestic sales, 15 May 2013

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Price decrease in energy products

The price index of first-hand domestic sales (PIF) fell by 0.8 per cent from April to May 2013. The main reason for the decrease in the PIF was lower prices of mineral fuels, lubricants and related materials. From May 2012 to May 2013, the PIF increased by 0.3 per cent.

Price index of first-hand domestic sales. 2000=100Published 10 June 2013
Per centPer centIndexWeights1
May 2013 / April 2013May 2013 / May 2012May 2013
1The weights are updated annually, and are valid for the entire year.
Product groups
Total index-0.80.3144.51 000.0
Food-1.16.7142.4177.1
Beverages and tobacco4.66.9153.114.3
Crude materials, inedible, except fuels-0.9-3.1124.952.5
Mineral fuels, lubricants and related materials-3.1-1.3233.5231.0
Chemicals and related products, n.e.s.0.31.4142.871.2
Manufactured goods classified by material-0.3-2.5128.4131.3
Machinery and transport equipment-0.1-1.0101.1231.9
Miscellaneous manufactured articles0.2-0.4111.584.6

Source: Statistics Norway

Price development for some SITC groups. 2000=100

The PIF index level in May ended at 144.5 (2000=100); the same level as in November 2012. The index for the total PIF had a steady rise in 2010. Since then, prices in different product groups have been volatile, with changes being cancelled out in the overall PIF.

Monthly change: Declining energy prices brought PIF down

Prices within mineral fuels, lubricants and related materials fell by 3.1 per cent in May, and this was one of the most important contributions to the lower prices in the overall PIF from April to May. Both prices of natural gas and electricity fell during May. Lower electricity prices were caused by higher temperatures in combination with high precipitation.

Food prices dropped 1.1 per cent, mainly due to a 5.8 per cent decrease in prices of fish and fish products. Prices of crude materials, inedible except fuels, as well as manufactured goods and machinery and transport equipment also dropped in May.

Product groups that lowered the total decrease in the PIF included beverages and tobacco and chemicals, with price increases of 4.6 and 0.3 per cent respectively. The index of chemicals rose due to higher prices of inorganic chemicals.

Twelve-month change: PIF increased by 0.3 per cent

The PIF rose by 0.3 per cent from May 2012 to May 2013, mainly due to higher prices of food, which had an increase of 6.7 per cent. Other product groups with increasing prices in May were animal and vegetable oils, chemicals as well as beverages and tobacco.

One product group that reduced the overall rise in the PIF from May 2012 to May 2013 was mineral fuels, lubricants and related materials, with a price decrease of 1.3 per cent. The index of manufactured goods dropped 2.5 per cent, mainly due to a reduction in prices of different metals. Prices of machinery and transport equipment as well as crude materials also fell in May.