Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Norway
CP1231NOM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
155.30
Year-over-Year Change
11.97%
Date Range
1/1/1996 - 7/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for Jewellery, Clocks and Watches tracks price changes in these luxury consumer goods in Norway. It is a key economic indicator for understanding trends in Norwegian consumer spending and inflation.
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 HICP is a standardized measure of consumer price inflation across European Union countries. The Jewellery, Clocks and Watches index specifically monitors price movements in this discretionary spending category, providing insights into consumer demand and sentiment.
Methodology
The data is collected through surveys of retailers and producers and calculated according to Eurostat's HICP methodology.
Historical Context
Policymakers and analysts use this index to assess inflationary pressures and consumer behavior in the Norwegian economy.
Key Facts
- The base year for the index is 2015 = 100.
- Norway is a member of the European Union's HICP program.
- Jewellery, Clocks and Watches represent about 1% of the Norwegian consumer basket.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Jewellery, Clocks and Watches tracks the price changes of these luxury consumer goods in Norway.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into consumer demand and spending patterns for discretionary items, which is useful for policymakers and economists analyzing inflationary pressures and consumer behavior in the Norwegian economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and producers and calculated according to Eurostat's standardized HICP methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess inflationary pressures and consumer spending trends in Norway, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Norway (CP1231NOM086NEST), retrieved from FRED.