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32054
Strong increase in harmonized index
statistikk
2003-02-10T10:00:00.000Z
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, January 2003

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Strong increase in harmonized index

The harmonized index of consumer prices (HICP) for Norway rose by 4.2 per cent from January 2002 to January 2003. The HICP was 117.6 (1996=100) in January, up 1.6 per cent from December. The annual growth in the EEA was 2.1 per cent in 2002.

HICP for Norway rose by 1.6 per cent from December 2002 to January 2003. The considerable growth in the consumer prices can to a large extent be explained by the price development on electricity. The year-to-year change was 4.2 per cent in January, up from 2.6 per cent in December. See http://www.ssb.no/kpi_en/ for more details.

The Harmonized Indices of Consumer Prices

Annual growth in the EEA from 2001 to 2002: Norway had the lowest growth rate

The annual growth in the EEA was 2.1 per cent in 2002. Iceland had the largest increase in the consumer prices with 5.3 per cent. Norway on the other hand, was registered with the lowest growth rate of 0.8 per cent.

Except for Norway, the prices of food and non-alcoholic beverages and also alcoholic beverages and tobacco rose in the EEA from 2001 to 2002. Educational expenses and the prices of restaurant- and accommodation services went up as well. Educational expenses went up in all the countries in the EEA except for Sweden. All the countries in the EEA area experienced a price increase of restaurant- and accommodation services.

Year-to-year change in the EEA: Highest growth in Ireland

From December 2001 to December 2002 the EEA consumer prices went up 2.2 per cent. Ireland had the highest growth of 4.6 per cent, while Germany had the lowest increase of 1.1 per cent. Educational expenses along with restaurant-and accommodation services went up the most in the EEA-area, with growth rates of 5.1 and 4.3 per cent respectively. The largest increases in educational expenses demonstrated Iceland, Ireland and Denmark, with growth rates between 11 and 12 per cent. In addition, Ireland also experienced the highest rise in the prices of restaurant- and accommodation services.

In advance, Eurostat estimated the year-to-year change in the Euro-zone in December to 2.2 per cent, while the actual price growth turned out to be 2.3 per cent. Expected growth in the consumer prices in the Euro-zone in January is 2.1 per cent. The HICP for the European Union (EU) increased by 2.2 per cent in December.

Harmonized Indices of Consumer Prices for Norway and other selected countries. Change in per cent
  Annual growth 2001-2002 November 2001-November 2002 December 2001-December 2002 January 2002-January 2003
Norway 0.8 1.8 2.6 4.2*
Iceland 5.3 2.3 1.9  
Sweden 2.0 1.4 1.7  
Denmark 2.4 2.8 2.6  
Finland 2.0 1.7 1.7  
Germany 1.3 1.0 1.1  
UK 1.3 1.6 1.7  
EEA 2.1* 2.1 2.2*  
EU 2.1* 2.1 2.2*  
Euro-zone 2.2* 2.2 2.3*  
US1 1.6 2.2 2.4  
Japan1 ... -0.4 ...  
1  National CPI.
Source:  Source: Statistics Norway and EUROSTAT.