Consumer Price Index: OECD Groups: Housing: Total for Norway
NORCPGRHO01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.08
Year-over-Year Change
102.74%
Date Range
2/1/1979 - 12/1/2023
Summary
The Consumer Price Index: OECD Groups: Housing: Total for Norway measures changes in the prices of housing-related goods and services in Norway. This metric is important for economists and policymakers to track inflation and consumer spending trends.
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 Consumer Price Index (CPI) is a key economic indicator that tracks the average change in prices paid by consumers for a basket of goods and services. The Housing category within the CPI measures costs related to shelter, utilities, furnishings, and household operations. The OECD group provides a standardized international comparison.
Methodology
The data is collected through surveys of consumers and businesses by Statistics Norway.
Historical Context
The housing CPI is used to assess inflationary pressures and inform monetary policy decisions.
Key Facts
- Norway's housing CPI has risen by 34% over the past decade.
- Housing accounts for over 20% of the total CPI basket in Norway.
- The housing CPI is a key input for the central bank's monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: OECD Groups: Housing: Total for Norway measures changes in the prices of housing-related goods and services in Norway.
Q: Why is this trend relevant for users or analysts?
A: The housing CPI is an important indicator for tracking inflation and consumer spending, which informs economic and monetary policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumers and businesses by Statistics Norway.
Q: How is this trend used in economic policy?
A: The housing CPI is a key input for the central bank's monetary policy decisions, as it helps assess inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: The housing CPI data for Norway is published monthly with a short lag, providing timely information for policymakers and analysts.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Housing: Total for Norway (NORCPGRHO01GPM), retrieved from FRED.