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148018
Increase in PIF
statistikk
2014-07-10T10:00:00.000Z
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
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Price index of first-hand domestic sales, 15 June 2014

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Increase in PIF

The price index for first-hand domestic sales (PIF) saw an increase of 0.7 per cent from May to June. The price rise was due to mineral fuels, lubricants and related materials. A decline in electricity prices curbed the increase in the total index.

Price index of first-hand domestic sales. 2000=100Published 10 July 2014
Per centPer centIndexWeights1
June 2014 / May 2014June 2014 / June 2013June 2014
1The weights are updated annually, and are valid for the entire year.
Product groups
Total index0.73.1148.31 000.0
Food0.64.1148.4180.1
Beverages and tobacco0.85.8155.115.0
Crude materials, inedible, except fuels2.89.6134.552.0
Mineral fuels, lubricants and related materials1.92.6238.9240.4
Chemicals and related products, n.e.s.0.45.2148.468.4
Manufactured goods classified by material0.62.9132.0126.6
Machinery and transport equipment-0.40.6101.5219.3
Miscellaneous manufactured articles-0.32.5114.490.7

Source: Statistics Norway

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

The price index for first-hand domestic sales (PIF) was 148.3 in June (where 2000=100), against 147.3 in May. From June 2013 to June 2014 the PIF increased by 3.1 per cent.

Higher prices in crude oil, Brent Blend, and petroleum products, were the main reasons behind a 1.9 per cent rise within mineral fuels, lubricants and related materials. Other groups contributing to the growth in the PIF from May to June were crude materials and food with price rises of 2.8 and 0.6 per cent respectively.

Increased food prices were mainly due to the arrival of the new season potatoes, which are usually more expensive than older potatoes. The import prices for coffee had a strong increase from May to June which can be seen in conjunction with the drought in Brazil, which influenced the world market price.

Twelve-month change: Higher prices of food and crude oil

From June 2013 to June 2014, the PIF increased by 3.1 per cent. Compared to May, the twelve-month change in the PIF rose by 1.2 percentage points in June, due to a sharper growth in food, petroleum and petroleum products as well as crude materials.

Food prices went up 4.1 per cent and were the main contributor to the growth in the PIF in this twelve-month period. The twelve-month change was also influenced by a 2.6 per cent growth in mineral fuels, lubricants and related materials.

Electricity prices fell by 18.8 per cent from June 2013 to June 2014 and contributed to dampen the growth the last twelve months.