Consumer Price Index: Harmonized Prices: Miscellaneous Goods and Services (COICOP 12): Total for Norway
NORCPHP1200GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-87.50%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Miscellaneous Goods and Services (COICOP 12): Total for Norway measures changes in the prices of a basket of consumer goods and services in Norway. This key economic indicator is closely watched by policymakers and analysts to assess inflationary pressures.
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 index tracks the prices of a representative sample of miscellaneous goods and services consumed by Norwegian households, including personal care, insurance, financial services, and other non-essential expenditures. It is a component of the broader Consumer Price Index, which is a widely used measure of inflation in the Norwegian economy.
Methodology
The data is collected through regular surveys of consumer prices by Statistics Norway.
Historical Context
Policymakers and central banks monitor this index to help guide monetary policy decisions and manage inflationary risks.
Key Facts
- Norway's miscellaneous goods and services CPI has increased by 3.2% over the past year.
- This index accounts for approximately 13% of the total Norwegian Consumer Price Index.
- Prices for personal care products and services have been a key driver of the rise in the miscellaneous goods and services CPI.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in the prices of a basket of miscellaneous consumer goods and services in Norway, including personal care, insurance, financial services, and other non-essential expenditures.
Q: Why is this trend relevant for users or analysts?
A: The miscellaneous goods and services CPI is an important component of the broader Consumer Price Index, which is closely watched by policymakers and analysts to assess inflationary pressures in the Norwegian economy.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of consumer prices by Statistics Norway.
Q: How is this trend used in economic policy?
A: Policymakers and the central bank monitor this index to help guide monetary policy decisions and manage inflationary risks in the Norwegian economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a relatively short lag, allowing for timely analysis of inflationary trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Miscellaneous Goods and Services (COICOP 12): Total for Norway (NORCPHP1200GPM), retrieved from FRED.