Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Maintenance and Repairs of the Dwellings for Norway
NORCPHP0403GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-92.86%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Maintenance and Repairs of the Dwellings for Norway measures changes in the prices paid by consumers for maintenance and repairs of their homes in Norway.
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 economic indicator tracks the cost of materials, labor, and other inputs required to maintain and repair residential dwellings in Norway. It is a key component of the broader Consumer Price Index and provides insight into inflationary pressures in the housing sector.
Methodology
The data is collected through a nationwide survey of prices charged by repair service providers and retailers of maintenance materials.
Historical Context
This index is closely monitored by policymakers and analysts to gauge overall inflation and the cost of living in Norway.
Key Facts
- Norway's housing maintenance prices rose 2.5% in the last year.
- This index accounts for 4.03% of the total Norwegian CPI basket.
- Prices for plumbing, electrical, and carpentry services are key drivers.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks changes in the prices consumers pay for maintaining and repairing their homes in Norway, including materials, labor, and other related costs.
Q: Why is this trend relevant for users or analysts?
A: The housing maintenance index provides insight into inflationary pressures in the Norwegian housing sector, which is a key component of the overall cost of living.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of prices charged by repair service providers and retailers of maintenance materials.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this index to gauge overall inflation and the cost of living in Norway, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately two weeks, providing timely information on housing maintenance costs.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Maintenance and Repairs of the Dwellings for Norway (NORCPHP0403GPM), retrieved from FRED.