Consumer Price Index: Harmonized Prices: Communication (COICOP 08): Total for Norway
Index Eurostat base
NORCPHP0800IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.30
Year-over-Year Change
5.78%
Date Range
1/1/1996 - 11/1/2023
Summary
The Index Eurostat base measures the price level of a basket of goods and services in Norway compared to a base year. It is a key economic indicator used to track inflation and consumer purchasing power.
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 Index Eurostat base is a price index that compares the current cost of a fixed basket of consumer goods and services to the cost of that same basket in a base year, typically set to 100. It provides a standardized measure of changes in the overall price level within the Norwegian economy.
Methodology
The data is collected through consumer surveys and retailer reporting, then calculated using a weighted average of price changes.
Historical Context
Policymakers and analysts use the Index Eurostat base to inform decisions about monetary policy, consumer protection, and economic planning.
Key Facts
- The base year for the Index Eurostat base is typically set to 100.
- It measures changes in the overall price level of consumer goods and services.
- The index is used to track inflation and assess purchasing power.
FAQs
Q: What does this economic trend measure?
A: The Index Eurostat base measures changes in the overall price level of a basket of consumer goods and services in Norway compared to a base year.
Q: Why is this trend relevant for users or analysts?
A: The Index Eurostat base is a key indicator used to track inflation and assess changes in consumer purchasing power, which is crucial for policymakers and economic decision-makers.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys and retailer reporting, then calculated using a weighted average of price changes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Index Eurostat base to inform decisions about monetary policy, consumer protection, and economic planning.
Q: Are there update delays or limitations?
A: The Index Eurostat base is subject to the typical update delays and limitations of consumer price index data.
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Citation
U.S. Federal Reserve, Index Eurostat base (NORCPHP0800IXEBM), retrieved from FRED.