Stable consumer price growth

In the last six months Norway's consumer prices measured by the change over the past 12 months have been stable. Average growth has been 2.3 per cent with only small deviations. The biggest contributor is higher rents and more expensive transport services, cultural offerings and health services. A pronounced decline in electricity prices and somewhat cheaper clothing over the past year have helped dampen price inflation.

The consumer price index rose by 2.3 per cent from March last year to March this year. From February to March this year prices increased 0.6 per cent. Higher food prices and transport costs have contributed the most to the growth of consumer prices over the past year. Of the overall growth rate of 2.3 per cent, more expensive food and transport each contributed 0.5 per cent. In other words, more than 40 per cent of the overall growth in prices comes from these two segments. In the food group, meat and meat products, fruit vegetables including potatoes, and fish in particular have become more expensive over the past year. In transport, the cost of using means of public transport has increased the most, while the operation and maintenance of private means of transport has also made a significant contribution.

The past month
Rents rose by just over two per cent from fourth quarter last year to first quarter this year. This is the strongest quarterly increase recorded since 1991. The cost of maintaining a home also increased last month. The price of clothing and shoes rose 6.6 and 3.6 per cent respectively from February to March after the seasonal sales in January and February were over. Household expenditure on transport also increased this past month. This is due to more expensive gasoline and higher ticket prices for public transport and taxi rates. Higher prices have also been registered for household appliances, probably as a result of the environmental tax which took effect 1 March.

The prices of electricity to households dropped 3.6 per cent from February to March.

Harmonized consumer price index
The Norwegian harmonized consumer price index compiled for international comparisons of price trends rose 2.0 per cent from March last year to March this year. It rose 0.6 per cent from February to March this year.

New Statistics
Consumer price index, 15 March 1999.
The statistics are published monthly in the Weekly Bulletin of Statistics. For more information contact: Berit.Koht@ssb.no, tel. +47 21 09 47 61, or Lasse.Sandberg@ssb.no, tel. +47 21 09 47 16.

Weekly Bulletin issue no. 15, 1999