Consumer price index, 15 October 2001

In October 2001 the CPI stood at 108.6 (1998=100), while it was 106.3 in October 2000. CPI adjusted for tax changes and energy prices (CPIATE) was 2.5 per cent measured by the year-to-year change in October.

Price change from September to October: Petrol prices down

After an increase in the petrol prices in September, the prices fell with 4.8 per cent in October and were the main contributor to the fall in the consumer prices from September to October. The prices of passenger transport by air, on the other hand, decreased the drop in the CPI in October as airline fares went up 5.5 per cent.

The electricity tariffs fell further in October with 0.8 per cent, as compared to the same period last year when the tariffs jumped up 4.4 per cent. Rentals increased only slightly in October.

There was a slight drop in the prices of food and beverages in October mainly caused by a seasonal price decrease of some fresh fruit and fresh vegetables. In contrast, several meat products pulled in the opposite direction. The prices of coffee and cocoa also declined in October.

After a strong increase in the prices of clothing in September, the prices continued to rise in October by 1.1 per cent. The prices of clothing were in October at the same price level as before the seasonal summer sale.

Insurance expenditure also increased since last survey.

Year-to-year change: Tariffs on electricity up

The CPI increased by 2.2 per cent from October 2000 to October 2001. The increased tariffs on electricity are the main contributor to the price growth. Even though the tariffs on electricity seem to have levelled out, the electricity tariffs have increased by 30.2 per cent during the last 12 months. The year-to-year change in the CPI excluding electricity was 1.0 per cent in October.

Another contributor to the price growth is the transport sector. There has been a strong increase in the prices for transport services mainly due to passenger transport by air. The airline fares have risen by 23.6 per cent during the last 12 months.

The petrol prices have, like previous months, strongly reduced the contribution from the transport sector to the year-to-year growth. The petrol prices were in October 14.7 per cent lower than in October last year. The CPI adjusted for energy prices (CPIAE) was 1.8 per cent in October.

Higher prices of hairdressing and some appliances for personal care also contributed to the year-to- year change in October, as well as higher prices on accommodation and catering services.

The prices of food and non-alcoholic beverages, on the other hand, slowed down the year-to-year change in October. The prices were 6.2 per cent lower in October this year compared to October last year due to the VAT (value added tax) reduction that was introduced in July 2001.

In addition to lower prices on food and beverages and petrol, audio-visual equipments, telephone products, clothing and footwear have dampened the price increase in October.

The year-to-year growth fell from 2.4 per cent in September to 2.2 per cent in October. This was mainly due to the price developments of electricity, petrol and clothing. The tariffs on electricity decreased, as mentioned earlier, slowly in October this year, in contrast to an increase of 4.4 per cent in October last year. The petrol prices fell more strongly in October this year compared to the same period last year and the prices of clothing did not increase as much as October last year.

CPIAT and CPIATE

Earlier this year Statistics Norway introduced the CPI adjusted for prices of energy products (CPIAE). As of the 10th of October, Statistics Norway in addition, presents two new indicators - CPI adjusted for changes in real taxes (CPIAT) and CPI adjusted for changes in real taxes and energy prices (CPIATE). The series are published on a monthly basis and in conjunction with the regular publishing of the CPI. For more details, see: Information on CPI statistics .