Consumer Price Index: Communication (COICOP 08): Total for Norway
NORCP080000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.70
Year-over-Year Change
2.36%
Date Range
1/1/1979 - 12/1/2023
Summary
The Consumer Price Index for Communication in Norway measures price changes for a basket of communication-related goods and services. This broad economic indicator provides insights into inflationary pressures and consumer purchasing power within the communication sector.
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 Communication CPI tracks the prices paid by Norwegian consumers for items such as telephone and internet services, postal charges, and equipment like cell phones and computers. This data series is a key input for policymakers assessing the overall cost of living and making adjustments to monetary and fiscal policy.
Methodology
The Norwegian statistical agency collects retail price data from a representative sample of businesses to calculate the monthly Communication CPI.
Historical Context
The Communication CPI is monitored by the Norges Bank, Norway's central bank, to gauge inflationary trends and guide interest rate decisions.
Key Facts
- The base year for the Norway Communication CPI is 2015.
- Communication accounts for about 5% of the total Norwegian consumer price index basket.
- Norway has one of the highest rates of broadband internet and mobile phone penetration in the world.
FAQs
Q: What does this economic trend measure?
A: The Communication CPI for Norway tracks changes in the prices paid by consumers for a basket of communication-related goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Communication CPI provides insights into inflationary pressures within the communication sector, which is critical for understanding consumer purchasing power and informing monetary policy decisions.
Q: How is this data collected or calculated?
A: The Norwegian statistical agency collects retail price data from a representative sample of businesses to calculate the monthly Communication CPI.
Q: How is this trend used in economic policy?
A: The Norges Bank, Norway's central bank, monitors the Communication CPI to gauge inflationary trends and guide interest rate decisions.
Q: Are there update delays or limitations?
A: The Communication CPI for Norway is published monthly with a short lag, providing timely data for policymakers and analysts.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Norway (NORCP080000IXNBM), retrieved from FRED.