Harmonized index of consumer prices, 15 July 2003

HICP for Norway fell by 0.3 per cent from June to July mainly due to seasonal sales on clothing and the price development on electricity. The year-to-year change was 1.2 per cent in July, down from 1.5 per cent in June. See http://www.ssb.no/kpi_en/ for more details.

Year-to-year change in the EEA

From June 2002 to June 2003 the consumer prices in the EEA went up 1.8 per cent. Ireland had the highest growth of 3.8 per cent followed by Greece and Portugal with price growths of 3.6 and 3.4 per cent respectively. The lowest consumer price growth in June was registered in Germany with 0.9 per cent.

From June last year to June this year household payments for education had the largest growth rate in the EEA of 5.1 per cent. Except for Sweden, an increase was registered in all the countries in the EEA area and Denmark had the highest price growth. The prices of alcoholic beverages and tobacco as a total went up 4.6 per cent in the EEA, whereof the prices of tobacco increased the most. All the EEA countries were registered with a price rise of alcoholic beverages and tobacco.

During the last 12 months the prices of goods and services within communications and culture and recreation declined slightly. The decrease was mainly caused by a price reduction of telephone equipment and- services and audiovisual equipment respectively.

In advance, Eurostat estimated the year-to-year change in June in the Euro-zone to 2.0 per cent, which turned out to be the actual price growth. Expected growth in the consumer prices in the Euro-zone in July is 1.9 per cent. The HICP for the European Union increased by 1.8 per cent in June.