Small decrease in the PIF
The price index of first-hand domestic sales (PIF) fell by 0.3 per cent from March to April 2013. The main reasons for the decrease in the PIF were lower prices of petroleum and petroleum products as well as declining prices of metalliferous ores and metal scrap. From April 2012 to April 2013, the PIF increased by 0.3 per cent.
|Per cent||Per cent||Index||Weights1|
|April 2013 / March 2013||April 2013 / April 2012||April 2013|
|1The weights are updated annually, and are valid for the entire year.|
|Total index||-0.3||0.3||145.7||1 000.0|
|Beverages and tobacco||0.3||3.8||146.4||14.3|
|Crude materials, inedible, except fuels||-0.6||-4.3||126.0||52.5|
|Mineral fuels, lubricants and related materials||-2.0||-2.8||240.9||231.0|
|Chemicals and related products, n.e.s.||-1.0||0.5||142.4||71.2|
|Manufactured goods classified by material||-0.1||-2.0||128.8||131.3|
|Machinery and transport equipment||-0.5||-1.0||101.2||231.9|
|Miscellaneous manufactured articles||-0.3||-0.4||111.3||84.6|
A 2 per cent drop in the prices of mineral fuels, lubricants and related materials was the main reason behind the total decrease in PIF from March to April. Prices decreased mainly due to lower prices of petroleum and petroleum products, which fell 3.5 per cent. In the same period, the price of crude oil, Brent blend measured in NOK, fell 5.2 per cent.
The price index for machinery and transport equipment decreased by 0.5 per cent, and this was primarily caused by higher prices of telecommunications, sound-recording and reproducing apparatus and machines.
Prices of chemicals fell by 1 per cent mainly due to lower prices of organic and inorganic chemicals. Within crude materials, inedible, except fuels, prices fell by 0.6 per cent due to a 2.3 per cent drop in prices of metalliferous ores and metal scrap.
One of the product groups that contributed to dampening the overall price decrease in the PIF from March to April was food products. Food prices rose by 2 per cent mainly due to higher fish prices. Electricity also lowered the total drop in the PIF, with a price rise of 2.5 per cent. Similar to March, higher electricity prices were caused by higher consumption of electricity due to low temperatures, but also minimal rainfall in April played an important role in bringing the electricity prices up.
Twelve-month change: PIF up 0.3 per cent
The PIF increased by 0.3 per cent from April 2012 to April 2013, mainly because of higher prices of food products, which increased by 8 per cent. Prices of fish and fish products as well as feeding stuff for animals had the strongest price rise within food products.
Another product group that brought the PIF up in the same period was electricity, with an increase of 24.2 per cent. Prices of chemicals increased by 0.5 per cent, mainly due to higher prices of inorganic chemicals.
The price index of crude materials, inedible, except fuels fell by 4.3 per cent from April 2012 to April 2013, and curbed the rise in the PIF over the last twelve months. Prices of petroleum and petroleum products fell by nearly 11 per cent. Within manufactured goods, prices dropped 2 per cent, mainly due to lower prices of different metals. The price index of machinery and transport equipment went down 1 per cent from April 2012 to April 2013. Decreasing prices of telecommunications and sound-recording and reproducing apparatus and equipment was an important reason for this.