Transport and storage, price indices, Q4 2010

The index for postal and courier services encompasses two sub indices, namely postal services under universal service obligation and other postal and courier services. The index for postal services under universal service obligation is more stable with less fluctuation in comparison to other postal and courier services where there exists more competition. The index level reached 119.8 and 108.1 per cent respectively for postal services under universal service obligation and other postal and courier services respectively. The total index postal and courier services was at 110.3 during the 4th quarter of 2010.

Stability in freight transport by road

Freight transport by road remained relatively stable with a 0.6 per cent increase during the fourth quarter of 2010 relative to the preceding quarter. In relation to the same quarter in 2009, the industry had an increase of 1.6 per cent.

Air fares back up

The total index for passenger air transport was at 100.9 in the 4th quarter of 2010 compared to 98.6 in the previous quarter. This is still lower than a year ago when the index was at 108.4, making for a fall in prices of 6.9 per cent. While fares for business travel decreased compared to the previous quarter, fares for leisure travel went up. Prices in these markets, similar to the development with the total index, were both lower than the 4th quarter of 2009.

Prices for freight ocean transport continue to decrease

Total index for water transport was110.9 for the 4th quarter of 2010. This means that the total index for the industry decreased by 6.8 per cent compared with the previous quarter and 1.2 per cent compared with the same quarter from the previous year. The decrease is due to a fall in freight ocean transport, especially within dry bulk transport, but transport of chemicals also declined compared with the previous quarter.

Prices in freight ocean transport are influenced by the NOK's strengthening against the dollar from the 3rd to 4th quarter in 2010. Most contracts are stipulated in USD. This means that with the steady freight rates, the price in NOK will be lower.

Higher prices for storage and cargo handling

The price index for storage and warehousing stood at 4.1 per cent higher during the fourth quarter of 2010 relative to the preceding quarter. The annual growth in relation to the same quarter in 2009 amounted to 4.1 per cent. The index for cargo handling, which also is being published for the first time, increased by 19.5 per cent in the course of five years, which amounts to about 4 per cent annual growth since 2006.