Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Norway
NORCP020000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.50
Year-over-Year Change
4.61%
Date Range
1/1/1979 - 12/1/2023
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Norway measures changes in the prices of these goods and services over time. This trend is a key indicator of consumer spending and inflationary pressures in the Norwegian economy.
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 Alcoholic Beverages, Tobacco and Narcotics in Norway is a subcomponent of the overall Consumer Price Index. It tracks the prices paid by Norwegian consumers for these products, providing insights into consumer demand and the cost of living.
Methodology
The Norwegian Statistics Bureau collects price data from a sample of retailers to calculate this index.
Historical Context
Policymakers and analysts use this CPI trend to understand consumer behavior and assess the impact of price changes on household budgets.
Key Facts
- The CPI for Alcoholic Beverages, Tobacco and Narcotics has a base year of 2015.
- This index accounts for approximately 2% of the overall Norwegian CPI basket.
- Prices in this category have risen by an average of 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Norway tracks the prices paid by consumers for these products.
Q: Why is this trend relevant for users or analysts?
A: This CPI trend provides insights into consumer spending and inflationary pressures in the Norwegian economy, which is useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The Norwegian Statistics Bureau collects price data from a sample of retailers to calculate this index.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this CPI trend to understand consumer behavior and assess the impact of price changes on household budgets.
Q: Are there update delays or limitations?
A: The CPI for Alcoholic Beverages, Tobacco and Narcotics in Norway is published monthly with a lag of approximately two weeks.
Related Trends
Infra-Annual Labor Statistics: Employment Male: From 25 to 54 Years for Norway
LFEM25MANOQ647S
Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for Norway
QNOPAM770A
Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Norway
ODCNPI03NOA657S
Amount Outstanding of Domestic Debt Securities for General Government Issuers, All Maturities, Residence of Issuer in Norway
DSAMRIAOGGNO
Value of Exports to Norway from New York
NYNORA052SCEN
Infra-Annual Labor Statistics: Employment Rate Total: From 25 to 54 Years for Norway
LREM25TTNOQ156S
Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Norway (NORCP020000IXNBM), retrieved from FRED.