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Weak growth in the CPI
statistikk
2012-01-10T10:00:00.000Z
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 index15 December 2011

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Weak growth in the CPI

The CPI increased by 0.1 per cent from November to December 2011. Prices of transport services went up, while the CPI was dampened by a decline in electricity prices. The year-to-year growth in the CPI rose by 0.2 in December 2011, while the CPI-ATE increased by 1.0 per cent in the same period.

Consumer price index. 1998 = 100

The Consumer price index (CPI) was 130.6 (1998=100) as per December 2011, compared with 130.4 in December 2010. This was equivalent to a year-to-year growth of 0.2 per cent in December 2011, down 1.0 percentage points from November. The year-to year growth in the CPI-ATE was 1.0 per cent in December 2011, unchanged from the previous month.

Small changes in prices from November to December 2011

The CPI rose by 0.1 per cent from November to December. Airline fares contributed most to the rise with an increase of 11.0 per cent in December. An increase in taxi fares was also registered since the last time it was measured. Prices of books went up by 6.8 per cent from November to December.

As a result of falling spot prices, electricity including grid rent fell by 3.2 per cent from November to December 2011, contributing to the rise in the CPI. Additionally, decreases in prices were measured for clothing and non-alcoholic beverages.

Close to no-growth from December 2010 to December 2011

The CPI rose by 0.2 per cent from December 2010 to December 2011. An important contributor to the weak year-to-year growth was the development of electricity prices. Electricity prices including grid rent were 28.2 per cent lower in December 2011 compared to December 2010. The rise in CPI excluding electricity (CPI-AEL) was 1.3 per cent in the same period. Decreased prices of audio visual equipment and food also contributed to dampen the year-to-year growth in the CPI.

Imputed rentals for owner-occupiers and prices of restaurant services were registered with increases of 1.7 and 3.9 per cent respectively, and contributed to pull the year-to-year growth in CPI up. Prices of tobacco went up by 7.8 per cent, while non-alcoholic and alcoholic beverage prices increased by 7.2 and 5.3 per cent respectively.

Strong decrease in the year-to-year growth

The year-to-year growth in the CPI fell from 1.2 per cent in November to 0.2 per cent in December 2011. The main cause of the fall was that the electricity prices including grid rent fell 3.2 per cent from November to December 2011, while rising 19.9 per cent in the same period the previous year. Prices of fuels and lubricant also showed a small decline from November to December 2011 while increasing in the same period the year before.

The year-to-year growth in the CPI-ATE was 1.0 per cent in December 2011, unchanged from November 2011.

Annual growth of 1.2 per cent

Annual growth in the CPI was 1.2 per cent from 2010 to 2011. It was especially the price development of audio visual equipment together with electricity including grid rent that contributed to the low annual growth. Prices of audio visual equipment continued falling in 2011, ending at 7.2 per cent for the whole year. Lower electricity prices for households in 2011 than in 2010 can be seen in relation to higher water inflow to the reservoirs due to heavy precipitation combined with lower consumption of electricity in 2011. See producer price index (PPI) for more information . A decline in prices of food and clothing also contributed to dampening the annual growth in the CPI.

Important factors that pulled up the annual growth in the CPI in 2011 were increased prices of alcoholic beverages and tobacco, imputed rentals for owner-occupiers and prices of fuels and lubricants.

The annual growth in the CPI-ATE ended at 0.9 per cent in 2011.

Changes in the CPI in 2012

As of the index for January 2012, which will be published on 10 February 2012, some changes will be made in the CPI mainly for the consumption groups food and non-alcoholic beverages and medical products. Read more about this in Changes in CPI in 2012 .

The Consumer Price Index. 1998=100
 
  Weights.
January 2011-December 2011
Index.
December 2011
Change in per cent
  November 2011-December 2011 December 2010-December 2011 Annual growth 2010-2011
 
CPI All-item index 1 000.0  130.6 0.1 0.2 1.2
Food and non-alcoholic beverages  133.1  121.7 -0.5 -0.2 -0.1
Alcoholic beverages and tobacco 42.3  158.1 0.1 6.5 6.4
Clothing and footwear 56.8 57.7 -0.7 -0.9 -3.0
Housing, water, electricity, fuels  214.9  158.2 -0.3 -3.2 0.9
Furnishings household equipment 60.2  106.8 0.3 - -0.6
Health 30.0  155.8 0.3 2.4 2.3
Transport  133.7  140.0 1.0 1.2 2.4
Communications 27.5 70.8 - -0.3 -1.8
Recreation and culture  134.8  116.3 0.6 -0.5 -0.1
Education 2.7  173.5 - 4.0 2.9
Restaurants and hotels 50.3  156.6 -0.2 3.3 2.9
Miscellaneous goods and services  113.8  142.3 0.1 2.8 2.8
           
CPI-AE ..  125.2 0.2 1.2 1.1
CPI-AT (July 1999=100) ..  127.3 0.1 - 1.1
CPI-AT (July 1999=100) ..  121.9 0.2 1.0 0.9
CPI-ATE seasonal adjusted ..  121.8 0.1    
 
 

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