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Electricity prices lifted the CPI
statistikk
2016-11-10T08:00:00.000Z
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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The Consumer Price Index (CPI) shows the price development and inflation for goods and services. The CPI for October 2016 was 0.5 per cent higher than the previous month.

Consumer price index, October 2016

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Electricity prices lifted the CPI

The Consumer Price Index (CPI) rose 0.5 per cent from September to October. The year-to-year growth in the CPI was 3.7 per cent in October, up 0.1 percentage points from September.

Consumer Price Index 1998=100Published 10 November 2016
Monthly change (per cent)12-month rate (per cent)Index
September 2016 - October 2016October 2015 - October 2016October 2016
CPI All-item index0.53.7146.4
Food and non-alcoholic beverages-0.43.2138.2
Housing, water, electricity, gas and other fuels1.55.2180.3
Transport-0.12.3154.9
Recreation and culture0.24.3130.3
Clothing and footwear2.14.658.6
 
CPI-ATE (July 1999 = 100)0.22.9136.5
 
CPI by delivery sector
(December 2014 = 100)
Consumer goods0.84.5107.1
Services0.22.8105.3
Services where labor dominates0.13.3106.4

Source: Statistics Norway

Figure 1. Consumer Price Index. Percentage change from the same month one year before

The year-to-year CPI-ATE growth was 2.9 per cent in October, unchanged from September. The CPI was 146.4 (1998=100) in October 2016, compared to 141.2 in October 2015, which corresponds to a year-to-year growth of 3.7 per cent.

Monthly change: electricity prices rose sharply

From September to October, the CPI increased 0.5 per cent. The main reason for the CPI increase was a solid increase in electricity prices, which included grid rent rose 8.8 per cent. This is the second highest monthly price increase in 2016, and prices are now at its highest level since March 2011. Higher electricity prices can be explained by less rain than normal, increased coal prices in Europe and cold weather forecast.

Pricing on clothing rose 2.3 per cent from September to October, mainly because of continued rising prices after the summer sales, and arrival of new winter stock in stores. Increased prices on furniture, airfares to international destinations and newspapers also contributed to the CPI rise in October.

The monthly increase in the CPI was mainly dampened by lower food prices, which decreased 0.6 per cent from September to October. This means food prices went down for the third consecutive month. Prices on imported agricultural products fell twice as much as Norwegian agricultural products.

Both petrol and diesel prices fell 1.0 per cent from September to October.

Year-to-year growth: higher electricity prices

From October 2015 to October 2016, the CPI grew 3.7 per cent. Higher electricity prices were the main contributor to the year-to-year growth; prices on electricity including grid rent showed a year-to-year increase of 27.2 per cent in October.

Prices on clothing rose 4.8 per cent last twelve months, and prices on recreational and cultural services increased 5.6 per cent in the same period.

The year-to-year growth of the CPI was mainly dampened by lower fuel prices. In October this year petrol and diesel prices were 1.3 and 4.9 per cent lower than in the same month last year.

Change in the year-to-year growth: small increase in CPI growth rate

The year-to-year growth in the CPI marginally increased from 3.6 per cent in September to 3.7 per cent in October. The increased growth rate can mainly be explained by the price development in food and clothing. Food prices fell 0.6 per cent from September to October 2016, while they decreased 1.2 per cent in the same period in 2015. Prices on clothing went up 2.3 per cent from September to October this year, while they increased 1.0 per cent in the same period last year.

The year-to-year growth in the CPI-ATE was 2.9 per cent in October, unchanged from September.

New detailed consumer classification, ECOICOPOpen and readClose

The CPI adopted Eurostat’s new detailed 5-digit consumer classification, ECOICOP in January 2016. Statistics Norway has published unofficial 5 and 6-digit COICOP indices for the consumer group Food and non-alcoholic beverages up until January 2016. As a result of a discrepancy between the unofficial and the new official ECOICOP, some previously published indices are no longer available. This results in new names for some of the published groups.

See the new names here.

Representative goods and services in the CPI by delivery sectorOpen and readClose

Here is the detailed list of representative goods and services in the CPI by delivery sector. The list will not be automatically updated