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Higher fuel prices behind rise in CPI
statistikk
2008-06-10T10:00:00.000Z
Prices and price indices;Income and consumption
en
kpi, Consumer price index, CPI, inflation, price trends, price increases, CPI-ATE, price index adjustment, deflation, deflator, product groups (for example food, housing, transport), service groups (for example telecom services, hotels and restaurants)Consumption, Consumer prices , Income and consumption, Prices and price indices
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Consumer price index, 15 May 2008

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Higher fuel prices behind rise in CPI

The CPI rose by 0.1 per cent from April to May, mainly caused by higher fuel prices. The CPI rose by 3.1 per cent from May 2007 to May 2008. The CPI-ATE has risen by 2.3 per cent in the past twelve months.

Consumer price index. 1998 = 100

The consumer price index (CPI) was 122.0 (1998=100) per May 2008 compared with 118.3 at the same time last year. This is equivalent to a year-to-year growth of 3.1 per cent, the same as in April. The CPI-ATE increased by 0.1 per cent from April to May 2008. The year-to year growth in the CPI-ATE was 2.3 per cent.

Fuel prices contributed to monthly growth

The CPI rose by 0.1 per cent from April to May. Relatively few goods and services had a marked increase in prices last month, the exception being prices of fuels and lubricants for personal transport equipment, which rose by 4.3 per cent and were the main contributor to the monthly growth. Higher prices were also recorded for food, which is not surprising in light of the developments both in Norway and internationally in recent months.

Several consumer groups contributed to dampen the growth in May. A fall in electricity prices, including the cost of transport, of 4.1 per cent, and a fall in airline fares of 9.1 per cent, were the main contributors. Lower prices of audiovisual equipment, books and goods and services for routine household maintenance also dampened the monthly CPI growth.

Electricity prices kept year-to-year growth high

The CPI rose by 3.1 per cent from May 2007 to May 2008, the same as in April. Again the main contributor was electricity prices, despite the fall in these prices from April to May. Electricity prices including the cost of transport rose by 14.1 per cent from May last year. Other consumption groups with marked growth were fuels and lubricants for personal transport equipment, which rose by 9.8 per cent, and food, which rose by 4.6 per cent. Prices of several services such as culture and leisure services, hotel and restaurant services and out-patient services also contributed to the yearly growth.

Audiovisual equipment and clothing continue to fall. In the past twelve months, prices of audiovisual equipment have fallen by 8.4 per cent and prices of clothing have fallen by 3.8 per cent.

The CPI-ATE has risen by 2.3 per cent in the past twelve months.

The Consumer Price Index. 1998 = 100
  Weights.
August 2007-
July 2008 		Index.
May 2008 		Change in per cent
  April 2008-May 2008 May 2007-May 2008 Jan.-May 2007-
Jan.-May 2008
CPI All-item index 1 000.0  122.0 0.1 3.1 3.4
Food and non-alcoholic beverages  113.8  117.5 0.6 4.7 3.9
Alcoholic beverages and tobacco 28.0  135.0 0.1 3.2 2.8
Clothing and footwear 58.4 64.7 0.2 -3.0 -3.1
Housing, water, electricity, fuels  280.7  144.0 -0.6 5.1 6.5
Furnishings household equipment 63.4  103.7 0.3 3.1 2.9
Health 29.1  141.6 -0.1 3.4 3.5
Transport  180.0  131.3 0.5 2.9 3.8
Communications 25.4 78.0 1.6 -4.9 -8.0
Recreation and culture  121.9  109.0 -0.1 0.8 0.6
Education 3.2  150.9 - 1.4 1.4
Restaurants and hotels 35.2  140.0 0.4 5.2 5.2
Miscellaneous goods and services 60.9  127.4 0.3 3.5 3.1
           
CPI-AE    118.0 0.1 2.3 2.1
CPI-AT    119.1 0.1 3.2 3.5
CPI-ATE    115.2 0.1 2.3 2.2
CPI-ATE sesonal adjusted    114.8 0.1