Consumer Price Index for Norway
DDOE01NOA086NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.21
Year-over-Year Change
27.99%
Date Range
1/1/1960 - 1/1/2017
Summary
The Consumer Price Index for Norway (CPI-NO) measures changes in the prices of consumer goods and services in Norway. This key economic indicator is widely used by policymakers, analysts, and consumers to understand inflation trends 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 CPI-NO tracks the prices of a representative basket of consumer goods and services typically purchased by Norwegian households. It is an important benchmark for monetary policy, wage negotiations, and cost-of-living adjustments.
Methodology
The data is collected through a nationwide survey of prices paid by consumers at retail outlets and service providers.
Historical Context
The CPI-NO is a vital input for the Norges Bank, Norway's central bank, in setting monetary policy to maintain price stability.
Key Facts
- The base year for the CPI-NO is 2015.
- Norway has consistently low inflation compared to other developed economies.
- The CPI-NO is published monthly by Statistics Norway.
FAQs
Q: What does the Consumer Price Index for Norway measure?
A: The CPI-NO tracks the prices of a representative basket of consumer goods and services typically purchased by Norwegian households.
Q: Why is the CPI-NO relevant for users or analysts?
A: The CPI-NO is a key economic indicator used by policymakers, analysts, and consumers to understand inflation trends and the purchasing power of the Norwegian krone.
Q: How is the CPI-NO data collected or calculated?
A: The data is collected through a nationwide survey of prices paid by consumers at retail outlets and service providers.
Q: How is the CPI-NO used in economic policy?
A: The CPI-NO is a vital input for the Norges Bank, Norway's central bank, in setting monetary policy to maintain price stability.
Q: Are there update delays or limitations for the CPI-NO?
A: The CPI-NO is published monthly by Statistics Norway with no significant update delays.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for Norway
NORCPIALLMINMEI
Infra-Annual Labor Statistics: Employment Total: From 55 to 64 Years for Norway
LFEM55TTNOA647N
Consumer Price Index: All Items: Total for Norway
NORCPALTT01IXNBQ
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Communication for Norway
NORCP080000GYQ
Infra-Annual Labor Statistics: Employment Total: From 15 to 24 Years for Norway
LFEM24TTNOA647S
Value of Exports to Norway from Puerto Rico
PRNORA052SCEN
Citation
U.S. Federal Reserve, Consumer Price Index for Norway (DDOE01NOA086NWDB), retrieved from FRED.