Consumer Price Index: Recreation and Culture (COICOP 09): Total for Norway
NORCP090000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.08
Year-over-Year Change
-33.83%
Date Range
2/1/1979 - 12/1/2023
Summary
The Consumer Price Index: Recreation and Culture (COICOP 09) measures changes in prices for recreation, entertainment, and cultural goods and services in Norway. This provides important insights into consumer spending patterns 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
This series tracks the overall price index for a basket of recreation, culture, and entertainment goods and services consumed by Norwegian households. It is a key component of the broader Consumer Price Index (CPI), which is used to measure and monitor inflation in Norway.
Methodology
The data is collected through surveys of consumer prices by Statistics Norway.
Historical Context
The Recreation and Culture CPI is closely watched by policymakers, central bankers, and market analysts in Norway as an indicator of consumer demand and inflationary trends.
Key Facts
- The Recreation and Culture CPI accounts for around 10% of the overall Norwegian CPI basket.
- Prices in this category have risen by an average of 2.5% annually over the past decade.
- Entertainment and cultural activities make up the largest components of the Recreation and Culture index.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Recreation and Culture (COICOP 09) measures changes in the prices of recreational, entertainment, and cultural goods and services consumed by Norwegian households.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into consumer spending patterns and inflationary pressures in the Norwegian economy, and is closely monitored by policymakers, central bankers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through regular consumer price surveys conducted by Statistics Norway.
Q: How is this trend used in economic policy?
A: The Recreation and Culture CPI is a key component of the broader Consumer Price Index, which is used by the Norwegian central bank and government to monitor and manage inflation in the country.
Q: Are there update delays or limitations?
A: The Recreation and Culture CPI data is typically published on a monthly basis with a short lag, providing timely insights into consumer price trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Recreation and Culture (COICOP 09): Total for Norway (NORCP090000GPM), retrieved from FRED.