Fall in prices of machinery & transport equipment

18 Feb '08

2 min read

The price index of first-hand domestic sales fell by 0.3 per cent from December 2007 to January 2008. This was mainly due to lower prices of fuels, lubricants and related materials, as well lower prices of machinery and transport equipment.

The fall in prices of machinery and transport equipment was 0.4 per cent from last month. Office machines and data processing machines (down 1.6 per cent) were the main contributors to this decline.

Price growth of 7.9 per cent from January 2007 to January 2008:
The price index of first-hand domestic sales increased 7.9 per cent from January 2007 to January 2008. The increase was due to higher prices in all groups except for crude materials, inedible (down 4.1 per cent) and a fall in prices of machinery and transport equipment of 1.2 per cent. The commodities with the largest changes are petroleum and petroleum products (up 35.7 per cent).

New weights:
When entering a new year, the weights used for calculating the price index have been updated. The weights express the influence of different industries on the total price index, and are based on the shares of different industries in the total production value in the Norwegian economy in the previous year.

The largest changes from 2007 to 2008 were the huge fall in the weights for fuels, lubricants and related materials, while the weights for machinery and transport equipment rose. The weights for the other industries remained relatively stable from 2007 to 2008.

Statistics Norway

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