| Often, it is interesting to look at what the consumer prices would have been had there not been changes in, for example, indirect taxes and energy, the so-called underlying price trend. Statistics Norway publishes three indicators designed to measure trends in the underlying change in consumer prices: the consumer price index excluding energy products (KPI-JE/CPI-AE), the consumer price index adjusted for changes in indirect taxes (KPI-JA/CPI-AT), and the consumer price index adjusted for changes in indirect taxes and excluding energy products (KPI-JAE/CPI-ATE). All the indicators are derived from the standard Consumer Price Index. The background to the development of KPI-JA/CPI-AT and KPI-JAE/CPI-ATE was Norges Bank's new monetary policy remit from 2001, in which the instruments of monetary policy are directed to achieving stable and low inflation. The development of an indicator for consumer price trends corrected for changes in duties and excluding energy products will provide the basis for assessing the results of this monetary policy. |