Higher prices on clothing pushed up CPI
The Consumer Price Index (CPI) increased 0.6 per cent from August to September 2015, mostly due to higher prices on food, electricity and furniture. Lower fuel prices dampened the CPI increase. The year-to-year growth in the CPI was 2.1 per cent in September, up 0.1 percentage point from August.
|Monthly change (per cent)||12-month rate (per cent)||Index|
|August 2015 - September 2015||September 2014 - September 2015||September 2015|
|CPI All-item index||0.6||2.1||140.6|
|Food and non-alcoholic beverages||0.2||4.2||135.3|
|Housing, water, electricity, gas and other fuels||0.6||-0.4||169.1|
|Recreation and culture||0.4||3.7||124.0|
|Clothing and footwear||5.3||3.4||55.4|
|CPI-ATE (july 1999 = 100)||0.8||3.1||132.4|
|CPI by delivery sector|
|Other consumer goods produced in Norway||0.6||-3.0||160.2|
|Imported consumer goods||1.7||3.9||94.8|
|Other services with wages as dominating price factor||0.2||2.7||217.3|
The year-to-year CPI-ATE growth was 3.1 per cent in September. The CPI was 140.6 (1998=100) in September 2015, compared to 137.7 in September 2014, which corresponds to a year-to-year growth of 2.1 per cent.
Monthly change: price increase on clothing
The CPI rose 0.6 per cent from August to September, mostly due to higher prices on clothing. Prices on clothes increased 5.8 per cent. The price increase was normal as it is the end of seasonal sales activity combined with the introduction of the autumn and winter collection. Electricity prices including grid rent rose 3.6 per cent from August to September. Prices on furniture and furnishings increased 4.2 per cent in the same period.
The monthly increase in the CPI was mainly dampened by the decline in petrol prices. Petrol prices fell for the second month in a row, and prices are down 8.2 per cent since July.
Year-to-year growth: price growth on food items continues
The CPI rose 2.1 per cent from September 2014 to September 2015. The most important factor was that prices of food and non-alcoholic beverages rose by 4.2 per cent over the past twelve months. Food prices alone increased 4.1 per cent, mainly due to higher prices on fruit, sugar commodities and chocolate items.
Other important factors contributing to the positive year-to-year growth were higher imputed rentals for home owners, and increased prices on furniture and clothing.
Prices on electricity are significantly lower in September this year than at the same time last year, thus dampening the year-to-year growth. Lower prices on fuels and telephone services also contributed to dampen the growth in the CPI over the last twelve months.
Change in the year-to-year growth: slightly up from August to September
The year-to-year growth in the CPI increased from 2.0 per cent in August to 2.1 per cent in September. The increased growth rate was mainly due to the development in food prices, which rose 0.3 per cent from August to September this year, while falling 0.9 per cent in the same period last year.
The price development of fuel pulled in the opposite direction, as they fell significantly more from August to September in 2015 than in the same period in 2014.
The year-to-year growth in the CPI-ATE was 3.1 per cent in September; up 0.2 percentage points from August. This was mainly due to the aforementioned development in food prices.