Price index of first-hand domestic sales, 15 June 2010

The rise in the PIF was mainly due to higher food prices in June than in May. Food prices rose by 2.5 per cent during this period and vegetables and fruit as well as fish and fish products contributed most to the price increase. Prices of vegetables and fruit rose by 15.7 per cent from May to June. It was largely high prices of Norwegian-produced potatoes that were responsible for this price rise, as well as increased prices of apples and oranges in the import market. Prices of fish and fish products rose by 6.3 per cent in June; increased prices for farmed trout and cod in the domestic market contributed most to the price rise.

Prices for chemical products rose by 1.2 per cent from May to June. The price increase for this group was driven by higher prices of inorganic chemicals and plastics.

Prices for manufactured goods, which have been rising since November 2009, have increased by an additional 0.6 per cent in June. The rise in manufactured goods in recent months is mainly caused by higher prices for goods of iron and steel.

Prices of electricity fell 1.9 per cent from May to June, which contributed to dampening the overall increase in the PIF. The decline in the index for electricity was driven by lower prices in electricity sold to households (see Consumer Price Index for more information ), while the system price at Nord Pool increased by 4.5 per cent from May to June.

Twelve-month change: 4.2 per cent higher prices

From June 2009 to June 2010, the PIF increased by 4.2 per cent. Inflation in this twelve-month period was largely driven by higher prices in two product groups - mineral fuels, lubricants and related materials as well as crude materials. Prices in these groups rose by 10.6 and 29.5 per cent, and prices increased most in the import market.

Food prices increased by 4.7 per cent, and all foods contributed to this price rise from June 2009 to June 2010.