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Continued price rise in PIF
statistikk
2014-08-11T10:00:00.000Z
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 July 2014

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Continued price rise in PIF

The price index for first-hand domestic sales (PIF) increased by 0.4 per cent from June to July. The price rise was due to electricity as well as machinery and transport equipment. A price decline in chemicals curbed the increase in the total index.

Price index of first-hand domestic sales. 2000=100Published 11 August 2014
Per centPer centIndexWeights1
July 2014 / June 2014July 2014 / July 2013July 2014
1The weights are updated annually, and are valid for the entire year.
Product groups
Total index0.41.4148.91 000.0
Food0.21.0148.7180.1
Beverages and tobacco0.55.3155.815.0
Crude materials, inedible, except fuels1.710.7136.852.0
Mineral fuels, lubricants and related materials0.7-2.1240.5240.4
Chemicals and related products, n.e.s.-0.32.0148.068.4
Manufactured goods classified by material0.53.3132.7126.6
Machinery and transport equipment0.41.0101.9219.3
Miscellaneous manufactured articles0.32.5114.890.7

Source: Statistics Norway

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

The price index for first-hand domestic sales (PIF) was 148.9 in July (where 2000=100), compared to 148.3 in June. From July 2013 to July 2014 the PIF increased by 1.4 per cent.

Monthly change: price rise in electricity prices

Higher electricity prices, of 10.6 per cent, were the main reason behind the overall rise in the PIF from June to July. In June, electricity prices were at their lowest level so far in 2014. In July, both the system price measured at Nord Pool and the price of electricity sold to Norwegian households increased. Higher prices of electricity were mainly caused by warm and dry weather in July, especially in the southern part of the country.

Other product groups contributing to the growth in the PIF from June to July were machinery and transport equipment, where prices increased by 0.4 per cent. Within crude materials, prices rose by 1.7 per cent, mainly due to higher prices of metalliferous ores and metal scrap.

Small increase in food prices

Food prices rose by 0.2 per cent from June to July. Prices of dairy products and birds’ eggs, cereals and cereal preparations increased, while prices of fish as well as vegetables and fruit went down in July. The domestic prices for vegetables and fruits fell from a high level last month, when new potatoes entered the market with high prices.

One product group that curbed the total rise in the PIF was chemicals, where prices fell by 0.3 per cent due to lower prices within inorganic chemicals.

Twelve-month change: higher prices of crude materials and manufactured goods

From July 2013 to July 2014, the PIF increased by 1.4 per cent. The index rose mainly due to a price increase in crude materials, where prices went up 10.7 per cent. Prices within manufactured goods rose by 3.3 per cent.

Prices within mineral fuels, lubricants and related materials dampened the total rise in the PIF from July 2013 to July 2014. Prices fell by 2.1 per cent within this group. Both in June and July the prices of electricity were low compared to the same month last year.