Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Norway
CPGREN01NOQ657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.32
Year-over-Year Change
92.14%
Date Range
1/1/1979 - 10/1/2023
Summary
The Consumer Price Index (CPI) for Energy in Norway tracks changes in the prices of fuel, electricity, and gasoline. This measure is crucial for understanding 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 CPI for OECD Energy Groups in Norway provides a reliable indicator of price fluctuations in key energy-related expenses for Norwegian households. It is a key input for policymakers and analysts monitoring the country's economic health and cost of living.
Methodology
The data is collected by Statistics Norway through consumer surveys and producer price indexes.
Historical Context
The energy CPI is closely watched by the Norges Bank and other institutions for its implications on monetary and fiscal policy.
Key Facts
- Norway's energy CPI rose 24% year-over-year in 2022.
- Electricity prices account for the largest share of the energy CPI basket.
- Energy costs make up around 10% of the total Norwegian CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for OECD Energy Groups in Norway tracks changes in the prices of fuel, electricity, and gasoline paid by Norwegian consumers.
Q: Why is this trend relevant for users or analysts?
A: The energy CPI is a critical indicator of inflationary pressures and consumer purchasing power in Norway, with important implications for policymakers and markets.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Norway through consumer surveys and producer price indexes.
Q: How is this trend used in economic policy?
A: The energy CPI is closely monitored by the Norges Bank and other institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The energy CPI data is published monthly with minimal delays, providing timely insights into Norway's cost of living and inflationary environment.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Norway (CPGREN01NOQ657N), retrieved from FRED.