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Decrease in prices of fish and imported goods
statistikk
2015-06-10T10:00:00.000Z
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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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, May 2015

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Decrease in prices of fish and imported goods

The PIF declined 0.2 per cent from April to May, with most commodity groups showing a reduction in prices.

Price index of first-hand domestic sales. 2000=100Published 10 June 2015
Per centPer centIndexWeights1
May 2015 / April 2015May 2015 / May 2014May 2015
1The weights are updated annually, and are valid for the entire year.
Product groups
Total index-0.2-0.3146.91 000.0
Food-0.63.7152.9192.6
Beverages and tobacco-0.45.3161.914.3
Crude materials, inedible, except fuels-1.93.8135.947.7
Mineral fuels, lubricants and related materials0.8-14.2201.2218.4
Chemicals and related products, n.e.s.-0.53.9153.565.2
Manufactured goods classified by material-0.44.3136.9130.9
Machinery and transport equipment0.01.7103.6229.7
Miscellaneous manufactured articles-0.53.5118.794.6

Source: Statistics Norway

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

The PIF for all product groups as a whole was 146.9 in May; a decrease of 0.2 per cent from April. Most major groups had a reduction in prices. Food prices fell 0.6 per cent and contributed the most to the decline in the PIF. The reduction in food prices is mainly due to a fall in the price of fish from Norway and imported vegetables and fruits. The index of ‘mineral fuels, lubricants and electricity' pulled in the opposite direction, with a rise of 0.8 per cent, reflecting the increase in the price of crude oil last month.

For Norwegian-produced goods (the domestic market), the PIF shows an increase of 0.3 per cent from April to May, with almost all major groups showing an increase. The tendency for a fall in prices from April to May therefore applies mostly to imported goods. An important exception was food prices, which went down in both markets. In the domestic market, the decline in food prices was mainly due to a reduction in fish prices of 2.7 per cent.

The import-weighted exchange rate index I44 fell from 100.3 to 98.2 last month (which means a stronger Norwegian currency, NOK). This probably influenced the decline in prices for imported goods last month.