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12427
Increase in food and energy prices
statistikk
2006-08-10T10:00:00.000Z
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 July 2006

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Increase in food and energy prices

After the decrease in the prices of petroleum and petroleum products the two previous months, the prices on energy good went up again. The index related to food products increased this month, in particular because of the seasonal fluctuations in fruit and vegetable prices. But also because of the continuing increase in fish prices.

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

Energy market analysts cite the tension in the geopolitical situation as a reason for the new upward trend in petroleum and gas prices. In world's stock markets the all time high levels from this spring were surpassed again in June. A summer with little rainfall in the southern parts of Norway in addition to high level of other energy prices drove electricity prices up by 13.7 per cent (NordPool). But the price is not yet as high as it was in April and March 2006.

The food prices increased by 2.1 percent from June to July 2006. This is partly due to seasonal variations. Among some of the groupings the prices have increased considerably compared to the same period last year. This applies for fruits and vegetables. According to figures from The Norwegian Agricultural Authority domestically cultivated potatoes had a particularly high increase in prices this June. This is related to the meteorological situation in southern Norway. In addition prices on fish rose, a price increase also mainly related to Norwegian production.

For the other main groupings the price fluctuations are smaller. Prices of crude materials increased by 2.7 per cent, in particular prices of metalliferous ores and metal scrap. According to London Metal exchange there were increases in prices of nickel, copper and lead.

The 12-month rate, July 2005 to July 2006: Up 6.4 per cent

The price index of first-hand domestic sales increased by 6.4 per cent from July 2005 to July 2006. It is still the prices of energy goods that influence the 12-months period the most.

Some food prices increased considerably compared to the same period of last year. The prices of fish, and fruit and vegetables increased by 16.2 and 9.8 per cent respectively. Domestically produced goods are the main reason for the twelve-month increase in this part of the index. Prices of imported food saw a smaller price growth. Prices of telecommunications apparatus, furniture, paper and paperboard and medicines fell over the past twelve months.

Price index of first-hand domestic sales
  July 2006 Changes, per cent
       June 2006-
July 2006 		     July 2005-
July 2006
Total index  120.9 1.9 6.4
Food and live animals  116.0 2.0 6.7
Beverages and tobacco  114.7 0.3 2.1
Crude materials, inedible, except fuels  107.2 2.7 6.6
Mineral fuels, lubricants and related materials       170.8 6.4 24.2
Chemicals and related products, n.e.s  109.0 0.5 1.9
Manufactured goods classified by material  110.5 0.2 4.3
Machinery and transport equipment  101.3 0.0 -1.0
Miscellaneous manufactured articles  103.1 0.2 -0.5