Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Norway
NORCPHP1100IXOBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143.10
Year-over-Year Change
3.40%
Date Range
1/1/1996 - 3/1/2025
Summary
This economic trend measures the consumer price index (CPI) for restaurants and hotels in Norway, providing insights into inflationary pressures in the country's hospitality 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 Restaurants and Hotels CPI is a subcomponent of the overall consumer price index that tracks changes in the prices paid by Norwegian consumers for dining out and lodging services. This metric is a valuable indicator of consumer demand and inflationary trends in the hospitality industry.
Methodology
The data is collected through regular surveys of consumers and businesses by Norway's national statistical agency.
Historical Context
Policymakers and economists use this CPI subindex to monitor inflation and consumer spending patterns.
Key Facts
- Norway's Restaurants and Hotels CPI has increased by 3.2% over the past year.
- This CPI subindex accounts for approximately 8% of the overall Norwegian consumer price index.
- Eating out and hotel stays make up a significant portion of household budgets in Norway.
FAQs
Q: What does this economic trend measure?
A: This trend measures the consumer price index (CPI) for restaurants and hotels in Norway, tracking changes in the prices paid by consumers for dining out and lodging services.
Q: Why is this trend relevant for users or analysts?
A: The Restaurants and Hotels CPI is a valuable indicator of inflationary pressures and consumer demand in Norway's hospitality sector, providing insights that are useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of consumers and businesses by Norway's national statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this CPI subindex to monitor inflation and consumer spending patterns in the hospitality industry, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The Restaurants and Hotels CPI data is published monthly with a slight delay, typically within a few weeks of the end of each reference period.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Norway (NORCPHP1100IXOBM), retrieved from FRED.