Small increase in the CPI
The Consumer Price Index (CPI) rose by 0.1 per cent from October to November, mostly due to higher prices of furniture, clothing and books. The year-to-year growth in the CPI was 2.5 per cent in November, while the CPI-ATE increased by 2.0 per cent in the same period.
|Monthly change (per cent)||12-month rate (per cent)||Index|
|October 2013 - November 2013||November 2012 - November 2013||November 2013|
|CPI All-item index||0.1||2.5||135.3|
|Food and non-alcoholic beverages||0.2||2.6||126.7|
|Housing, water, electricity, gas and other fuels||0.1||5.4||167.6|
|Recreation and culture||0.6||1.2||117.7|
|Clothing and footwear||1.1||-1.8||55.6|
|CPI-ATE (july 1999 = 100)||0.2||2.0||125.8|
|CPI by delivery sector|
|Other consumer goods produced in Norway||-0.3||5.6||162.7|
|Imported consumer goods||0.6||0.2||90.7|
|Other services with wages as dominating price factor||0.2||3.5||204.4|
The CPI was 135.3 (1998=100) in November 2013, compared to 132.0 in the same month the year before, which corresponds to a year-to-year growth of 2.5 per cent.
Monthly change: higher prices of furniture, clothing and books
The CPI increased by 0.1 per cent from October to November. Prices of furniture and furnishings rose by 2.4 per cent. Clothing prices were 1.2 per cent higher in November than in October, while prices of books increased 8.9 per cent in this period.
The overall rise in the CPI was mainly curbed by airfares, which fell 11.7 per cent from October to November. The decline in prices was measured for both domestic and international fares.
Year-to-year growth: strong growth in electricity prices still most important
The CPI rose by 2.5 per cent from November 2012 to November 2013. The main contributor to the year-to-year growth was the increase in prices of electricity. In November this year, electricity prices including grid rent were 14.4 per cent above the price level of November 2012. Imputed rentals for home owners rose 3.7 per cent the last twelve months, making it one of the other main contributors to the rise in the CPI. Another important factor was food, with a price increase of 2.6 per cent.
The price level of maintenance and repair of personal transport equipment was 3.2 per cent higher in November than in the same period last year. Prices of alcoholic beverages and tobacco increased 4.6 per cent, while furniture and furnishings went up by 6.1 per cent. Higher actual rentals together with higher prices for the groups restaurant services and recreational and sporting services also contributed to the positive growth in the last twelve months.
Clothing prices fell 2.5 per cent from November 2012 to November 2013, making it the consumption group that had the strongest dampening effect on the CPI in this period. Among other important dampening factors were airfares, which fell 8.9 per cent, and a price fall of 6.6 per cent for books.
Change in the year-to-year growth: weak increase in the CPI/CPI-ATE
The year-to-year growth in the CPI increased from 2.4 per cent in October to 2.5 per cent in November. The main contributor to the decrease in the CPI was the price development of furniture. Prices of furniture and furnishings rose 2.4 per cent from October to November this year, while falling by 0.5 per cent in the same period last year. The development in the prices of maintenance and repair of personal transport equipment and for clothing and footwear had a positive impact on the rise in the year-to-year growth.
The year-to year growth in the CPI-ATE was 2.0 per cent in November; up 0.1 percentage point from 1.9 per cent the previous month.