Consumer price index, 15 November 2006

CPI was 119.0 (1998=100) in November 2006, compared to 116.0 at the same time last year. This is equivalent to a year-to-year growth of 2.6 per cent. The year-to-year growth in CPI-ATE was 0.8 per cent in November, up 0.1 percentage points from October.

Energy products pulled the CPI down from October to November

The CPI fell by 0.1 per cent from October to November. The prices of electricity decreased by 4.6 per cent, and these were due to the mild weather and the amount of rainfall in Norway. The electricity prices fell, while the cost of electricity transport rose slightly. Petrol prices fell by 1.7 per cent.

There was a 0.5 per cent increase in the prices of food and non-alcoholic beverages; amongst others prices of fresh fruits and coffee increased during this period. From October to November, prices of furniture, clothing, pharmaceutical products and materials for routine household maintenance rose.

Increase in electricity prices in the last 12 months

The CPI rose by 2.6 per cent from November 2005 to November 2006. Compared with the same time last year, the tariffs of electricity were a total of 35.8 per cent higher. Despite lower year-to-year growth in electricity prices the last two months, the prices of electricity contributed to about half of the total CPI growth.

Other contributors to the year-to-year growth in the CPI came from higher prices in different services. The prices of recreation and culture services increased by 7.0 per cent, and transport- and health services prices increased by 4.9 and 5.9 per cent, respectively. The prices in accommodation services rose by 11.2 per cent from November 2005 to November 2006.

Prices of clothing and audiovisual equipment have been the major contributors that dampened the last twelve months CPI growth, with a price decrease of 5.2 and 7.8 per cent, respectively. Reduced kindergarten fees and prices of telephone services have also pulled the CPI growth down.

CPI-ATE rose

The year-to-year growth in CPI decreased from 2.7 per cent in October to 2.6 per cent in November. The decrease is due to the price development in electricity. Electricity prices fell by 4.6 per cent in November this year, while there was a 3.6 per cent increase in November last year.

The year-to-year growth in CPI-ATE rose from 0.7 to 0.8 per cent from October to November 2006.