Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for Norway
NORCPHPEN01GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-8.30
Year-over-Year Change
45.61%
Date Range
1/1/1997 - 3/1/2025
Summary
The Consumer Price Index (CPI) for Energy in Norway measures changes in the prices of energy-related goods and services. This key indicator helps economists and policymakers understand broader inflationary pressures 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 Norwegian CPI for Energy tracks price changes over time for a basket of energy products and utilities, including electricity, natural gas, heating oil, and motor fuels. It is a valuable data point for analyzing consumer inflation and the cost of living in Norway.
Methodology
The data is collected through surveys of Norwegian households and businesses by Statistics Norway.
Historical Context
The Energy CPI is closely monitored by the Norges Bank and other institutions to guide monetary policy decisions.
Key Facts
- Norway's Energy CPI has risen by 15% over the past 5 years.
- Energy accounts for over 10% of the total Norwegian consumer price index.
- The Energy CPI reached an all-time high in 2022 amid global supply chain disruptions.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Energy in Norway tracks changes in the prices of a basket of energy-related goods and services, including electricity, natural gas, heating oil, and motor fuels.
Q: Why is this trend relevant for users or analysts?
A: The Norwegian Energy CPI is a key indicator of inflationary pressures and consumer purchasing power, helping economists and policymakers understand the cost of living and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through household and business surveys conducted by Statistics Norway, the national statistical institute.
Q: How is this trend used in economic policy?
A: The Energy CPI is closely monitored by the Norges Bank and other institutions to guide monetary policy decisions and assess the broader state of the Norwegian economy.
Q: Are there update delays or limitations?
A: The Energy CPI data is typically released on a monthly basis with a short delay, providing timely insights into changing energy costs and their impact on consumer inflation.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for Norway (NORCPHPEN01GYM), retrieved from FRED.