Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Actual Rentals for Housing: Total for Norway
NORCP040100GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.08
Year-over-Year Change
-52.18%
Date Range
2/1/1979 - 12/1/2023
Summary
The Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Actual Rentals for Housing: Total for Norway measures changes in the cost of housing for Norwegian consumers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks the prices paid by Norwegian households for actual rentals of primary residences, including utilities. It is a key indicator of housing affordability and overall cost of living in Norway.
Methodology
The data is collected through surveys of Norwegian households and businesses.
Historical Context
Policymakers and economists use this index to monitor inflationary pressures and guide economic and housing policies.
Key Facts
- This index uses 2015 as the base year.
- Norway has one of the highest housing costs in Europe.
- Shelter accounts for over 20% of the typical Norwegian household budget.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices paid by Norwegian households for the actual rental of their primary residences, including utility costs.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of housing affordability and the overall cost of living in Norway, which is essential for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Norwegian households and businesses.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to monitor inflationary pressures and guide economic and housing policies in Norway.
Q: Are there update delays or limitations?
A: The index is updated monthly, but there may be a delay of several weeks before the latest data is available.
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Citation
U.S. Federal Reserve, Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Actual Rentals for Housing: Total for Norway (NORCP040100GPM), retrieved from FRED.