Rise in clothing and textile prices
The Consumer Price Index (CPI) rose by 0.1 per cent from September to October, mainly due to higher prices on clothing, furniture and household textiles. The year-to-year growth in the CPI was 2.0 per cent in October, while the CPI-ATE growth was 2.5 per cent in the same period.
|Monthly change (per cent)||12-month rate (per cent)||Index|
|September 2014 - October 2014||October 2013 - October 2014||October 2014|
|CPI All-item index||0.1||2.0||137.8|
|Food and non-alcoholic beverages||-0.2||2.5||129.6|
|Housing, water, electricity, gas and other fuels||-0.4||1.0||169.2|
|Recreation and culture||0.4||2.6||120.1|
|Clothing and footwear||1.9||-0.7||54.6|
|CPI-ATE (july 1999 = 100)||0.2||2.5||128.7|
|CPI by delivery sector|
|Other consumer goods produced in Norway||-1.4||-0.2||162.9|
|Imported consumer goods||0.7||1.8||91.8|
|Other services with wages as dominating price factor||0.0||3.7||211.5|
The CPI was 137.8 (1998=100) in October 2014, compared to 135.1 in October 2013, which corresponds to a year-to-year growth of 2.0 per cent.
Monthly change: price rise on clothing
The CPI increased 0.1 per cent from September to October. Clothing prices rose 1.8 per cent from September to October. At the same time, household textiles increased by 8.0 per cent. Airfares rose by 3.7 per cent. This is the first price increase for October since 2006. From August to September, the price for garden, plant and flowers went up by 2.4 per cent.
The energy components were the most important factor in dampening the rise in the CPI. Electricity including grid rent had a price fall of 3.1 per cent, while fuels and lubricants had a price decrease of 2.1 per cent from September to October.
Year-to-year growth: more expensive food and beverages
The CPI rose by 2.0 per cent from October 2013 to October 2014. Over the last twelve months, food and non-alcoholic beverages had a price increase of 2.5 per cent. Food prices increased 2.0 per cent, while non-alcoholic beverages went up 4.9 per cent in the last twelve months.
The year-to-year growth in the CPI was mainly dampened by lower electricity prices. Prices of electricity including grid rent fell by 7.1 per cent in the last twelve months. Electricity prices have been below the 2013 level in every month in 2014 to date.
Change in the year-to-year growth: energy items pulled growth down
The year-to-year growth in the CPI decreased from 2.1 per cent in September to 2.0 per cent in October. The main contributor to the fall was the price development of energy items from September to October in 2014 compared to the same period last year. The decrease in electricity prices was a particularly strong contributor with a decrease from September to October this year compared to the price increase for the same period last year. On the other hand, airfares pulled in the opposite direction with a price increase from September to October this year compared to a price fall from the year before. The year-to- year growth in the CPI-ATE was 2.5 per cent in October, up 0.1 percentage point from September.