32102_not-searchable
/en/priser-og-prisindekser/statistikker/hkpi/arkiv
32102
Low growth in prices
statistikk
2002-02-11T10:00:00.000Z
Prices and price indices;Income and consumption
en
hkpi, Harmonized index of consumer prices, HCPI, inflation, EU countries, EEA countries, price trends, price increases, 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
false

Harmonized index of consumer prices, January 2002

Content

Published:

This is an archived release.

Go to latest release

Low growth in prices

The harmonized index of consumer prices (HICP) for Norway fell from 1.6 per cent in December to 0.9 per cent in January. The harmonized index of consumer prices was 112.9 (1996=100) in January 2002, an increase of 0.1 per cent from December 2001. The annual growth in the HICP for the EEA was 2.4 per cent in 2001.

The strong decline in the year-to-year change is mainly due to tax changes this year compared with last year, plus the price development of electricity and clothing. The slight increase in the harmonized index of consumer prices from December to January is based on higher tariffs on electricity and higher rentals for housing, in addition to an increase in the prices of petrol and some food. Sales on clothing, footwear and furniture including reduced prices of alcohol moderated the increase. See the article for the Consumer Price Index for January for more details.

The annual growth

The HICP for the EEA went up by 2.4 per cent from 2000 to 2001 in comparison to 2.1 per cent from 1999 to 2000. Iceland, Netherlands and Portugal have experienced the largest increase in the prices in 2001. While United Kingdom and France, on the other hand, have had the lowest. The HICP for the European Union (EU) increased by 2.4 per cent from 2000 to 2001.

Increased prices on food

In the EEA, it was the prices of food that experienced the largest increase during 2001, and was thereby one of the main contributors to the growth in the harmonized index of consumer prices. It was the prices of fruits and vegetables that increased the most. The price increase of food was largest in the Netherlands and in Iceland. The prices of educational services also experienced a rise in 2001, of which Austria, Ireland and Iceland contributed with the strongest increase.

The prices of accommodation services also experienced a rise in the EEA in 2001. The index on housing, water, electricity, gas and other fuels increased as well during 2001, partly caused by a considerable rise in the tariffs on electricity in Norway and the Netherlands.

Lower prices on communication

In 2001 the prices of communications have contributed to moderate the price growth in the EEA. The vast majority of the countries in the EEA experienced a decline in the prices, with the exception of Iceland, Finland and Sweden. Particularly Luxembourg and Ireland distinguished themselves with a considerable decrease. It was the prices on telephone equipment and services that pulled the strongest in the direction of a decline in the prices of communications.

Revised weights in the HICP

The weights in the HICP are revised yearly in January. The Norwegian HICP use annual weight updates based on average expenditure shares for the last 3 years, with data obtained from Statistics Norway annual household budget survey (HBS).