Consumer Price Index: Harmonized Prices: Health (COICOP 06): Total for Norway
NORCPHP0600GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.20
Year-over-Year Change
-50.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Health (COICOP 06): Total for Norway measures changes in the prices of health-related goods and services in Norway. This key economic indicator provides insights into inflationary pressures and consumer purchasing power.
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 harmonized price index tracks the cost of a basket of health-related items, including medical services, pharmaceuticals, and medical equipment. Economists and policymakers use this metric to assess the state of the Norwegian economy and make informed decisions.
Methodology
The data is collected through surveys of Norwegian consumers and businesses.
Historical Context
The health component of the CPI is a valuable input for monetary policy and healthcare cost analysis.
Key Facts
- Norway's health CPI has increased by 2.3% over the past year.
- The health component accounts for approximately 10% of the overall Norwegian CPI basket.
- Pharmaceutical prices are the largest contributor to changes in the health CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Harmonized Prices: Health (COICOP 06): Total for Norway measures changes in the prices of health-related goods and services in Norway.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into inflationary pressures and consumer purchasing power, which are crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Norwegian consumers and businesses.
Q: How is this trend used in economic policy?
A: The health component of the CPI is a valuable input for monetary policy and healthcare cost analysis.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis with a short delay.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Health (COICOP 06): Total for Norway (NORCPHP0600GPM), retrieved from FRED.