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148012
Price falls for energy products
statistikk
2014-04-10T10:00:00.000Z
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 March 2014

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Price falls for energy products

The price index of first-hand domestic sales (PIF) was down 0.9 per cent from February to March 2014. Lower prices of energy products, fish and chemicals caused the decline in the overall index. From March 2013 to March 2014, the PIF increased by 0.9 per cent.

Price index of first-hand domestic sales. 2000=100Published 10 April 2014
Per centPer centIndexWeights1
March 2014 / February 2014March 2014 / March 2013March 2014
1The weights are updated annually, and are valid for the entire year.
Product groups
Total index-0.90.9147.51 000.0
Food-0.33.7146.4180.1
Beverages and tobacco-0.85.6154.215.0
Crude materials, inedible, except fuels-0.3-1.2125.352.0
Mineral fuels, lubricants and related materials-3.8-3.1238.0240.4
Chemicals and related products, n.e.s.-1.42.4147.268.4
Manufactured goods classified by material-0.11.7131.1126.6
Machinery and transport equipment-0.10.8102.5219.3
Miscellaneous manufactured articles1.03.8115.890.7

Source: Statistics Norway

Figure 1. Price development for some SITC groups. 2000=100

The price index of first-hand domestic sales (PIF) for all commodity groups was 147.5 in March (with 2000=100), compared to 148.9 in February. Prices decreased within most of the main commodity groups, except the groups “miscellaneous manufactured articles” and “animal and vegetable oils and fats”.

Energy products pulled down

Lower prices within mineral fuels, lubricants and related materials had the greatest impact on the decline in the PIF. Price falls in petroleum and petroleum products and electricity, of 3.0 and 7.7 per cent respectively, were the main reasons for the price decline in the group. Prices within chemicals fell by 1.4 per cent due to lower prices in inorganic chemicals and medicinal and pharmaceutical products.

Food prices fell by 0.3 per cent as a result of lower fish prices.

Within miscellaneous manufactured articles and animal and vegetable oils and fats, prices increased by 1.0 and 2.8 per cent respectively.

Lower prices in domestic market and import

Prices in the domestic market, prices for goods manufactured and sold in Norway, declined by 1.4 per cent in March. The decline in the import market was considerably smaller due to the price falls in the commodity groups that are more important for domestic market than imports. The turnover of electricity, petroleum and petroleum products as well as fish is much greater in the domestic market, and the sharp price falls for these groups gave a greater decrease in the PIF in the domestic market.

Twelve-month change: increases in petroleum and food

PIF increased by 0.9 per cent from March 2013 to March 2014. Petroleum and petroleum products, various groups of food, and miscellaneous manufactured goods contributed the most to the growth.

Lower prices of electricity and a sub-group of crude materials, metalliferous ores and metal scrap helped curb the increase in the PIF in this twelve-month period.