Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Norway
NORCP040000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.22
Year-over-Year Change
-137.31%
Date Range
2/1/1979 - 12/1/2023
Summary
The Consumer Price Index for Housing, Water, Electricity, Gas and Other Fuels in Norway measures changes in the prices of these essential household expenses. This index is a key indicator of inflationary pressures and living costs for Norwegian consumers.
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 COICOP 04 index tracks the prices of a basket of housing-related goods and services, including rents, utilities, and energy. It is used by policymakers and analysts to assess the overall cost of living and make informed decisions about monetary and fiscal policies.
Methodology
The data is collected through a nationwide survey of consumer prices by Statistics Norway.
Historical Context
This index helps the Norges Bank, Norway's central bank, monitor inflation and make appropriate adjustments to monetary policy.
Key Facts
- The base year for the Norwegian CPI-04 index is 2015.
- Housing and utilities account for approximately 25% of the typical Norwegian consumer's expenditures.
- The CPI-04 index reached its highest level on record in 2022.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Housing, Water, Electricity, Gas and Other Fuels (CPI-04) measures changes in the prices of essential household expenses in Norway.
Q: Why is this trend relevant for users or analysts?
A: The CPI-04 index is a crucial indicator of inflationary pressures and the cost of living for Norwegian consumers, which is relevant for policymakers, economists, and households.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices by Statistics Norway.
Q: How is this trend used in economic policy?
A: The Norges Bank, Norway's central bank, uses the CPI-04 index to monitor inflation and make appropriate adjustments to monetary policy.
Q: Are there update delays or limitations?
A: The CPI-04 data is typically published on a monthly basis with a short delay, providing timely information on changes in housing and utility costs.
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Citation
U.S. Federal Reserve, Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Norway (NORCP040000GPM), retrieved from FRED.