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Electricity prices continue to rise
statistikk
2015-11-10T10:00:00.000Z
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
false
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, October 2015

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Electricity prices continue to rise

The price of electricity (producer price) has increased by almost 48 per cent since July, and was the main contributor to the rise in the price index for first-hand domestic sales (PIF) from September to October.

Price index of first-hand domestic sales. 2000=100Published 10 November 2015
Product groupsChanges in per centIndexWeights1
September 2015 - October 2015October 2014 - October 2015October 2015
1The weights are updated annually, and are valid for the entire year.
Total index0.8-1.6145.11 000.0
Food-0.15.4156.0192.6
Beverages and tobacco1.14.8168.014.3
Crude materials, inedible, except fuels-0.4-8.3128.847.7
Mineral fuels, lubricants and related materials3.6-21.2177.4218.4
Chemicals and related products, n.e.s.-0.25.7157.065.2
Manufactured goods classified by material0.53.1138.4130.9
Machinery and transport equipment0.64.2105.8229.7
Miscellaneous manufactured articles0.54.7120.994.6

Source: Statistics Norway

With a price increase of more than 17 per cent in October, electricity was by far the most important contributor to the 0.8 per cent rise in the PIF last month.

Despite electricity prices rising sharply in the three consecutive months August, September and October, the producers' electricity prices were still more than 10 per cent lower in October 2015 than in October 2014. The significant price increase in electricity contributed to the 3.6 per cent price growth of the main group 'mineral fuels, lubricants and related materials' last month.

Another group that contributed to the rise in PIF from September to October was ‘machinery and transport equipment’, where prices rose by 0.6 per cent. Here, the prices within both ‘office machines, data processing machines’ and ‘electrical machinery and apparatus’ increased.

A slight decline in food prices in October curbed the rise in the PIF. There were price increases in most food types, except vegetables and fruit where prices went down. Substantial price reductions for imported fruits and vegetables contributed to the decline in the index for food products. There was a decline in prices of imported apples, strawberries, lemons, almonds and hazelnuts. The price decline in imported vegetables and fruit followed a large price increase from August to September.