Consumer Price Index: Communication (COICOP 08): Total for Norway
NORCP080000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.24
Year-over-Year Change
-107.66%
Date Range
2/1/1979 - 12/1/2023
Summary
The Consumer Price Index (CPI) for Communication in Norway measures the price changes of goods and services related to communication, such as telephone, internet, and postal services. This index is a key indicator of inflation and consumer spending patterns in the Norwegian economy.
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
The Communication CPI is a subindex of the overall Norwegian CPI, which tracks the average change in prices paid by consumers for a basket of goods and services. The Communication CPI specifically monitors price trends for communication-related expenses, providing insights into a crucial sector of household budgets and the broader cost of living.
Methodology
The data is collected through surveys of consumer expenditures and retail prices by Statistics Norway.
Historical Context
The Communication CPI is used by policymakers, economists, and businesses to analyze inflationary pressures and consumer behavior in Norway.
Key Facts
- The Communication CPI is a subindex of the overall Norwegian CPI.
- The index tracks prices for telephone, internet, and postal services.
- The data is collected by Statistics Norway through consumer expenditure surveys.
FAQs
Q: What does this economic trend measure?
A: The Communication CPI measures the price changes of goods and services related to communication, such as telephone, internet, and postal services in Norway.
Q: Why is this trend relevant for users or analysts?
A: The Communication CPI provides insights into a crucial sector of household budgets and the broader cost of living in Norway, which is useful for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and retail prices by Statistics Norway.
Q: How is this trend used in economic policy?
A: The Communication CPI is used by policymakers, economists, and businesses to analyze inflationary pressures and consumer behavior in Norway.
Q: Are there update delays or limitations?
A: The data is regularly updated by Statistics Norway, but there may be occasional delays or limitations in data coverage.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Norway (NORCP080000GPM), retrieved from FRED.