Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Norway
NORCP010000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.92
Year-over-Year Change
-63.65%
Date Range
1/1/1979 - 10/1/2023
Summary
The Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Norway tracks price changes for food and non-alcoholic beverage items in Norway. This key measure provides insights into 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
This index is a subcomponent of the broader Consumer Price Index, Norway's primary measure of inflation. It focuses specifically on the prices of food and non-alcoholic beverages, which are essential components of household budgets. Economists and policymakers analyze this data to assess cost-of-living changes and consumer behavior.
Methodology
The data is collected through surveys of retailers and households by Statistics Norway.
Historical Context
This index is used to inform monetary and fiscal policy decisions in Norway.
Key Facts
- The base year for this index is 2015.
- Food and non-alcoholic beverages account for approximately 13% of the total CPI basket in Norway.
- This index has been published monthly since 1979.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices of food and non-alcoholic beverage items consumed by Norwegian households.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into inflationary pressures and consumer purchasing power, which are crucial for economic policymaking and analysis.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and households by Statistics Norway.
Q: How is this trend used in economic policy?
A: This index is used to inform monetary and fiscal policy decisions in Norway, as it reflects changes in the cost of living for consumers.
Q: Are there update delays or limitations?
A: This index is published monthly, with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Norway (NORCP010000GPQ), retrieved from FRED.