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32058
Low annual growth in harmonized index
statistikk
2003-01-10T10:00:00.000Z
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
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Harmonized index of consumer prices, December 2002

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Low annual growth in harmonized index

The harmonized index of consumer prices (HICP) for Norway rose by 0.8 per cent from 2001 to 2002. The HICP was 115.7 (1996=100) in December, up 0.9 per cent from November. The year-to-year growth in the EEA was 2.1 per cent in November.

The annual growth in the HICP for Norway was 0.8 per cent in 2002. The low growth rate can among other things be explained by tax reductions and lower prices of clothing. The HICP rose 0.9 per cent from November to December. The increase was mainly caused by a rise in the tariffs on electricity. From December 2001 to December 2002 the HICP increased by 2.6 per cent. See the consumer price index for more details.

Change from October to November in the EEA area: Highest price growth in Portugal

The HICP in the EEA was 111.8 in November, unchanged from October. Portugal faced the strongest increase in the consumer prices with 0.6 per cent, while Germany on the other hand had a decrease of 0.5 per cent.

The prices of clothing and footwear went up in the EEA from October to November. Portugal was registered with the strongest price increase. The tariffs on electricity went up slightly in the EEA, mainly as a result of the large price rise in Norway. The prices of transport services went down in the EEA, particularly the airline fares. The largest decreases in the prices of passenger transport by air were registered in Great Britain and Germany. The prices of accommodation services and package holidays went down as well.

Harmonized index of consumer prices. Percentage change from the same month one year before

Year-to-year change in the EEA: 2.1 per cent

From November 2001 to November 2002 the EEA consumer prices went up 2.1 per cent. Ireland had the highest growth with 4.7 per cent, while Germany and Belgium had the lowest rates of 1.0 and 1.1 per cent respectively.

The prices of alcoholic beverages and tobacco rose by 3.4 per cent in the EEA from November 2001 to November 2002. Greece had the largest increase with 6.0 per cent. Norway, on the other hand, was the only country in the EEA area with a price decrease. With the exception of Iceland and Germany, the prices of food and non-alcoholic beverages went up in all the countries in the EEA area. The overall price increase in the EEA was 1.7 per cent.

In advance, Eurostat estimated the year-to-year change in November in the Euro-zone to 2.2 per cent, which turned out to be the actual price growth. Expected growth in the consumer prices in the Euro-zone in December is 2.2 per cent. The HICP for the European Union (EU) increased by 2.1 per cent in November.

Harmonized Indices of Consumer Prices for Norway and other selected countries. Change in per cent
  October 2002-November 2002 October 2001-October 2002 November 2001-November 2002 December 2001-December 2002
Norway 0.3 1.3 1.8 2.6*
Iceland -0.2 3.0 2.3  
Sweden -0.3 1.7 1.4  
Denmark -0.1 2.7 2.8  
Finland -0.4 1.7 1.7  
Germany -0.5 1.3 1.0  
UK - 1.4 1.6  
EEA -* 2.1 2.1*  
EU -0.1* 2.1 2.1*  
Euro-zone -0.1* 2.3 2.2*  
US1 ... 2.0 ...  
Japan1 ... -0.9 ...  
1  National CPI.
Source:  Source: Statistics Norway and EUROSTAT.