Price index of first-hand domestic sales, 15 December 2013

The price index of first-hand domestic sales (PIF) for all groups of goods was 148.4 in December (with 2000=100), compared with 147.5 the month before. The rise in the total index was due to a price increase within mineral fuels, lubricants and related materials. An increase in food prices also contributed to the rise in the overall index. All main product groups, except chemicals, experienced price increases from November to December.

A price increase of 1.6 per cent in the group mineral fuels, lubricants ands related materials played the largest role in bringing the overall price index up from November to December. Prices within petroleum and petroleum products rose. The same happened with natural gas, while a price drop of 4.7 per cent in electricity dampened the overall price rise within fuels, lubricants and related materials.

High price rise in imported fruits and vegetables

Food prices went up by 0.6 per cent from November to December, mainly due to higher prices of vegetables and fruits. In the import market, prices went up 18 per cent because of higher prices for products such as tomatoes, cucumbers, courgettes, broccoli and various types of nuts.

Crude materials, inedible, except fuels, went up 1 per cent due to higher prices of metalliferous ores and metal scrap.

The Norwegian krone continued to weaken against foreign currencies also in December 2013, and this may have contributed to the growing import prices from November to December.

Twelve -month change: prices up 2.3 per cent

The PIF increased by 2.3 per cent from December 2012 to December 2013. The main reason for the increase in the total index was a price rise in the commodity group mineral fuels, lubricants and related materials of 4.2 per cent, which was particularly due to higher prices on petroleum and petroleum products.

Annual change: PIF increased by 1.4 per cent

From 2012 to 2013, the PIF increased by 1.4 per cent, while from 2011 to 2012, prices fell 0.4 per cent. The annual change from 2012 to 2013 was mainly due to higher prices on food products, with an increase of approximately 6 per cent. Another large contribution to the rise in the annual rate emanated from mineral fuels, lubricants and related materials and chemicals.

Within food, prices increased for fish and fish products, feeding stuff for animals, vegetables and fruits, as well as for cereal preparations. Within vegetables and fruits, prices increased by 4.2 per cent from 2012 to 2013. Prices on cereal preparations rose by 2.3 per cent, mainly due to higher prices in the domestic market. The agricultural settlement in 2013 made corn producers one of the winners, and this may be part of the reason why grain prices increased somewhat during the summer of 2013.

The product group mineral fuels, lubricants ands related materials had an annual change of 2.5 per cent from 2012 to 2013, compared with a price fall of 2.7 per cent from 2011 to 2012. The explanation behind the price increase from 2012 to 2013 was a 16 per cent rise in electricity prices of 16 per cent. From 2011 to 2012, on the other hand, electricity prices fell 26 per cent due to much higher precipitation in southern Norway and thereby higher water reservoir levels in 2012 compared to 2013.