Services drew prices up

Summer clothing sales and higher prices for a number of services impacted the consumer price index in August this year. From a somewhat longer perspective, "services with wages as the dominating price factor" contributed in particular to the growth of the CPI during this period.

The CPI fell by a modest amount from July to August. Summer discounts on clothing and shoes drew the index down, while more expensive day-care and after-school child care fees pulled in the opposite direction. The 12-month growth rate, i.e. the change in the last 12 months, climbed from 2.2 per cent in July to 2.3 per cent in August.

Summer sales

Clothing prices were marked down an average of 3.1 per cent from July to August during the annual summer sales, while the prices of footwear fell by 2.5 per cent. Furniture was also marked down, and here prices fell by barely one per cent.

A number of goods and services were noted with price increases in August. Day-care fees paid by parents increased by 1.9 per cent, while the cost of a place in an after-school child care programme rose 8.3 per cent. The price of kerosene and fuel oil for home heating increased by about 6 per cent. The prices for these products are somewhat higher than in May, which was the month before the summer sales started. The price of gasoline increased by barely one per cent in the last month. Prices of mobile phones--particularly the cheapest models--also rose noticeably from July to August.

New Statistics

Consumer price index, per 15 August 1997.
Statistics are published every month in the Weekly Bulletin of Statistics. More Information: Lasse Sandberg, tel. +47 21 09 47 16, e-mail: san@ssb.no, Geir Ormseth, tel. +47 21 09 47 22, e-mail: geo@ssb.no or Randi Johannessen, tel. +47 21 09 47 30, e-mail: raj@ssb.no.

Weekly Bulletin issue no. 38, 1997