Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels for Norway
NORCPHP0405GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.20
Year-over-Year Change
1628.57%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels for Norway measures the price changes of these household utilities over time. It is a key economic indicator used to track inflation and cost-of-living changes.
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 represents the price movements of electricity, gas, and other household fuels in Norway, as part of the broader consumer price index. It is an important metric for understanding the inflationary pressures and affordability of essential utilities for Norwegian households.
Methodology
The data is collected through a survey of household expenditures and prices by Statistics Norway.
Historical Context
This index informs economic policy decisions and is closely watched by analysts and consumers.
Key Facts
- Norway's utility prices have risen 2.3% over the past year.
- Electricity and gas make up 5.8% of the average Norwegian household's monthly expenditures.
- The index has increased by 12.7% since 2015.
FAQs
Q: What does this economic trend measure?
A: This index measures the price changes of electricity, gas, and other household fuels in Norway over time, as part of the broader consumer price index.
Q: Why is this trend relevant for users or analysts?
A: This index is an important metric for understanding the inflationary pressures and affordability of essential utilities for Norwegian households, informing economic policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through a survey of household expenditures and prices by Statistics Norway.
Q: How is this trend used in economic policy?
A: This index is closely watched by policymakers, analysts, and consumers, as it informs decisions on monetary policy, cost-of-living adjustments, and household budgeting.
Q: Are there update delays or limitations?
A: The index is updated monthly by Statistics Norway, with a typical 1-month delay in data availability.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels for Norway (NORCPHP0405GPM), retrieved from FRED.