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Oil and gas pulled PIF upwards
statistikk
2015-05-11T10:00:00.000Z
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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The price index of first-hand domestic sales (PIF) measures the price change of the first commercial transaction for many products, producers’ selling prices and importers’ buying prices.

Price index of first-hand domestic sales, April 2015

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Oil and gas pulled PIF upwards

The price index of first-hand domestic sales (PIF) increased by 0.9 per cent from March to April. Prices for most groups of goods rose, with petroleum products and natural gas making important contributions.

Price index of first-hand domestic sales. 2000=100Published 11 May 2015
Per centPer centIndexWeights1
April 2015 / March 2015April 2015 / April 2014April 2015
1The weights are updated annually, and are valid for the entire year.
Product groups
Total index0.90.0147.21 000.0
Food0.24.9153.9192.6
Beverages and tobacco0.45.9162.514.3
Crude materials, inedible, except fuels1.310.2138.547.7
Mineral fuels, lubricants and related materials2.6-15.3199.6218.4
Chemicals and related products, n.e.s.1.63.9154.265.2
Manufactured goods classified by material0.44.5137.4130.9
Machinery and transport equipment0.21.4103.6229.7
Miscellaneous manufactured articles0.83.8119.394.6

Source: Statistics Norway

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

Prices rose within every product group with the exception of animal and vegetable oils, fats and waxes. Prices within mineral fuels, lubricants and related materials increased due to higher prices within petroleum and petroleum products and natural gas. Within chemicals, prices rose mainly due to higher prices on organic chemicals and plastics.

Weakening in Norwegian currency

Higher prices on imported clothing contributed to the rise in the index of miscellaneous manufactured articles from March to April. According to Virke, the Enterprise Federation of Norway, two- thirds of all imported clothing comes from Asia and is paid for in US dollars. From April 2013 to April 2015, prices on clothing rose by 12.5 per cent. During the same period, the US currency strengthened by 36 per cent compared to the Norwegian krone.

No change to PIF over the last twelve months

From April 2014 to April 2015, the PIF was unchanged. The overall price decrease within mineral fuels, lubricants and related materials was dampened by higher prices in the remaining product groups. One of the product groups that contributed to pulling the index up was food and live animals, where prices rose by 4.9 per cent.