Price of clothing drops

Clothing and footwear showed a decline of over two per cent from October 1997 to October 1998, and prices have declined by over six per cent since October 1995. Lower tariff rates, free trade with several countries and the abolition of quotas on clothing from countries with low price levels are some of the reasons for the price reduction in recent years.

Compared with the 12-month growth rate, price inflation has been stable in Norway so far this year. From October last year to October this year the consumer price index rose by 2.2 per cent, and so far this year (the last 10 months) prices are 2.2 per cent higher than during the same period last year. The 12-month change for different product groups shows considerable difference during the same period.

Clothing prices have been declining since 1995 and are now about three per cent under the October 1998 level. A gradual decrease in tariff rates and a sharp increase in imported clothing from countries with low labour costs are some of the factors behind the decline in prices in recent years. Strong competition between the clothing chains, which control 75 per cent of the Norwegian market, has also helped lower prices.

New Statistics
Consumer price index, 15 October 1998.
The statistics are published monthly in the Weekly Bulletin of Statistics. For more information, contact: Frode.Bendiksen@ssb.no, tel. +47 21 09 44 27, Kari-Anne.Hovland@ssb.no, tel. +47 21 09 47 22, or Randi.Jannessen@ssb.no, tel. +47 21 09 47 30.

Weekly Bulletin issue no. 47, 1998