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66122
Higher prices in energy products
statistikk
2012-02-10T10:00:00.000Z
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

Price index of first-hand domestic sales, 15 January 2012

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Higher prices in energy products

The Price index of first-hand domestic sales (PIF) increased by 0.9 per cent from December 2011 to January 2012. The main reasons were higher prices in electricity, petroleum and petroleum products.

;>Price development for some SITC groups. 2000=100

Higher prices in electricity, petroleum and petroleum products, which increased by 4.6 and 4.7 per cent respectively, were the main reasons behind a 4.1 per cent rise within mineral fuels, lubricants and related materials. The growth in electricity prices was mainly caused by colder weather in January.

Price increase in manufactured goods and chemicals

Manufactured goods and chemicals rose by 1.1 and 1.5 per cent respectively from December to January. With a rise of 8 per cent, the price increase in non-ferrous metals was the most important for the price rise in manufactured goods. Higher prices within chemicals were mainly caused by increasing prices in organic and inorganic chemicals.

Decrease in prices of food products

Nearly all groups of food experienced a rise in prices from December to January, except fish, whose prices dropped 8 per cent. Food and live animals fell 1.1 per cent from December to January and helped curb the rise in the overall index.

Twelve month change: small decrease

The strongest contributions behind the 0.1 per cent decrease in PIF over the last twelve months came from crude materials, inedible, except fuels, with a drop of 10.5 per cent. Metalliferous ores and metal scrap had the most influence. Lower prices in electricity of 37.6 per cent were also of great importance.

Chemicals, food and miscellaneous manufactured articles were among the product groups in which prices increased during this twelve month period.

Price index of first-hand domestic sales. 2000=100
  January 2012 Changes, per cent
  December 2011-
January 2012 		January 2011-
January 2012
Total index  144.6 0.9 -0.1
Food and live animals  132.4 -1.1 1.0
Beverages and tobacco  138.5 -0.3 3.0
Crude materials, inedible, except fuels  127.6 0.1 -10.5
Mineral fuels, lubricants and related materials  245.4 4.1 -2.2
Chemicals and related products, n.e.s  139.9 1.5 5.6
Manufactured goods classified by material  132.2 1.1 0.8
Machinery and transport equipment  102.7 0.3 0.5
Miscellaneous manufactured articles  111.2 -0.2 1.8

Updated weights

Entering a new year, the weights used for calculating the price index have been updated. The weights express the influence of different goods on the total price index, and are based on the shares of different goods in the total value of turnover in the Norwegian economy in the previous year. Compared with 2011, the weights of food and live animals and miscellaneous manufactured articles are lower in 2012, while the weights of mineral fuels, lubricants and related materials and machinery and transport equipment increased.

All changes in weights are due to changes in both volumes and prices to different degrees. This year, however, there is an additional possible source of shifts in weights. The weights are calculated using data from national accounts. For the first time, these data are grouped according to a new standard. Thus, some changes in weights may occur due to changes in the way certain goods are classified in the old and the new standard.

For more on weights, see the table of weights and data in StatBank .