Consumer Price Index: Housing for Norway
NORCPIHOUMINMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.79
Year-over-Year Change
1.72%
Date Range
1/1/1979 - 5/1/2018
Summary
The Consumer Price Index (CPI): Housing for Norway measures changes in the prices paid by Norwegian consumers for housing-related goods and services. This key economic indicator is closely watched by policymakers and analysts to assess 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
The CPI: Housing for Norway is a subcomponent of the broader Norwegian Consumer Price Index, which tracks the average change in prices for a basket of consumer goods and services. The housing component specifically monitors costs related to rent, utilities, household furnishings, and other shelter expenses.
Methodology
The data is collected through surveys of Norwegian households and businesses by Statistics Norway, the national statistical agency.
Historical Context
The CPI: Housing is used by the Norges Bank, Norway's central bank, to help set monetary policy and manage inflation targets.
Key Facts
- Norway's CPI: Housing has risen by an average of 2.5% annually over the past decade.
- Housing accounts for over 23% of the total Norwegian Consumer Price Index basket.
- Stable housing costs are a key factor in the Norges Bank's inflation targeting framework.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI): Housing for Norway tracks changes in the prices paid by Norwegian consumers for housing-related goods and services, including rent, utilities, and household furnishings.
Q: Why is this trend relevant for users or analysts?
A: The CPI: Housing is a closely watched indicator that provides insight into inflationary pressures and consumer purchasing power in Norway, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Norwegian households and businesses by Statistics Norway, the national statistical agency.
Q: How is this trend used in economic policy?
A: The CPI: Housing is used by the Norges Bank, Norway's central bank, to help set monetary policy and manage inflation targets.
Q: Are there update delays or limitations?
A: The CPI: Housing data is typically released by Statistics Norway on a monthly basis, with a short delay of a few weeks.
Related Trends
Population (LFS Basis): All Ages: Males for Norway
LFPOTTMANOA647N
National Accounts: GDP by Expenditure: Constant Prices: Less: Imports of Goods and Services for Norway
NAEXKP07NOQ652S
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for Norway
NORCPIENGMINMEI
Liquid Liabilities to GDP for Norway
DDDI05NOA156NWDB
Infra-Annual Labor Statistics: Employment Male: From 55 to 64 Years for Norway
LFEM55MANOA647S
Bank Capital to Total Assets for Norway
DDSI03NOA156NWDB
Citation
U.S. Federal Reserve, Consumer Price Index: Housing for Norway (NORCPIHOUSINMEI), retrieved from FRED.