Harmonized Index of Consumer Prices: Motor Cars for Norway
CP0711NOM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.80
Year-over-Year Change
-0.16%
Date Range
1/1/1996 - 7/1/2025
Summary
The Harmonized Index of Consumer Prices for Motor Cars measures changes in the prices paid by Norwegian consumers for new motor vehicles. This metric provides valuable insights into consumer demand and spending patterns within the automotive industry.
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 Harmonized Index of Consumer Prices (HICP) is a standardized measure of inflation across the European Union. The Motor Cars subindex tracks the price of new passenger vehicles, an important component of household budgets and a key economic indicator.
Methodology
The data is collected through a survey of retailers and compiled by Statistics Norway.
Historical Context
Policymakers and analysts use this index to monitor inflationary pressures and consumer behavior in the Norwegian automotive market.
Key Facts
- Norway is one of the world's largest per capita markets for electric vehicles.
- Motor vehicles account for around 10% of the Norwegian consumer price index.
- Prices for new motor cars in Norway are among the highest in Europe.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices for Motor Cars measures changes in the prices paid by Norwegian consumers for new passenger vehicles.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer demand and spending patterns within the Norwegian automotive industry, which is an important component of the overall economy.
Q: How is this data collected or calculated?
A: The data is collected through a survey of retailers and compiled by Statistics Norway.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor inflationary pressures and consumer behavior in the Norwegian automotive market.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Motor Cars for Norway (CP0711NOM086NEST), retrieved from FRED.