Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Miscellaneous Goods and Services for Norway
NORCPHP1200GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-96.67%
Date Range
1/1/1997 - 3/1/2025
Summary
The Consumer Price Index (CPI) for Miscellaneous Goods and Services measures changes in the prices paid by Norwegian consumers for a basket of common household items. This index is a key economic indicator used to assess inflation and guide monetary policy decisions.
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 Miscellaneous Goods and Services CPI is a component of the broader Consumer Price Index, which tracks the average change in prices for a representative basket of consumer goods and services in Norway. This subindex focuses specifically on items like personal care products, household supplies, and other miscellaneous expenditures.
Methodology
The Norwegian CPI data is collected through surveys of retailers and service providers across the country.
Historical Context
Policymakers at the Norges Bank, Norway's central bank, closely monitor CPI trends to inform interest rate and monetary policy decisions.
Key Facts
- Norway's CPI for Miscellaneous Goods and Services has a base year of 1998.
- This subindex accounts for approximately 13% of the total Norwegian CPI basket.
- Prices in the Miscellaneous Goods and Services category have risen by an average of 2.1% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Miscellaneous Goods and Services CPI for Norway measures changes in the prices paid by consumers for a variety of household items and personal care products.
Q: Why is this trend relevant for users or analysts?
A: This CPI subindex provides important insights into inflationary pressures within a key component of Norwegian household spending, which is useful for policymakers and economists analyzing the broader state of the economy.
Q: How is this data collected or calculated?
A: The Norwegian CPI data is collected through surveys of retailers and service providers across the country.
Q: How is this trend used in economic policy?
A: The Norges Bank, Norway's central bank, closely monitors CPI trends, including the Miscellaneous Goods and Services subindex, to inform interest rate and other monetary policy decisions.
Q: Are there update delays or limitations?
A: The Norwegian CPI data is typically released on a monthly basis with a short lag, providing timely information to policymakers and analysts.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Miscellaneous Goods and Services for Norway (NORCPHP1200GYM), retrieved from FRED.