Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Norway
Index 2015=100
NORCPIHICAINMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.40
Year-over-Year Change
43.58%
Date Range
1/1/1995 - 1/1/2024
Summary
The Index 2015=100 measures the change in consumer prices for core goods and services in Norway. It serves as a key indicator of inflation and the purchasing power of the Norwegian krone.
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 2015=100 tracks the price changes of a basket of consumer goods and services in Norway, excluding volatile food and energy prices. It is a widely watched metric for assessing the overall cost of living and inflation trends in the Norwegian economy.
Methodology
The data is collected through consumer price surveys conducted by Statistics Norway.
Historical Context
The index is closely monitored by the Norges Bank, Norway's central bank, to inform monetary policy decisions.
Key Facts
- Norway's core CPI reached a 40-year high in 2022.
- The index has risen by over 10% in the past year.
- The Norges Bank has raised interest rates to combat rising inflation.
FAQs
Q: What does this economic trend measure?
A: The Index 2015=100 measures the change in consumer prices for core goods and services in Norway, excluding volatile food and energy costs.
Q: Why is this trend relevant for users or analysts?
A: The index is a key indicator of inflationary pressures and the overall cost of living in Norway, which is closely monitored by policymakers and investors.
Q: How is this data collected or calculated?
A: The data is collected through consumer price surveys conducted by Statistics Norway.
Q: How is this trend used in economic policy?
A: The Index 2015=100 is a crucial input for the Norges Bank's monetary policy decisions, as it helps assess the need for interest rate adjustments to maintain price stability.
Q: Are there update delays or limitations?
A: The index is published monthly with a short delay, and the data may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Index 2015=100 (NORCPIHICAINMEI), retrieved from FRED.