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32343
Moderate increase in CPI
statistikk
2008-09-10T10:00:00.000Z
Prices and price indices;Income and consumption
en
kpi, Consumer price index, CPI, inflation, price trends, price increases, CPI-ATE, price index adjustment, deflation, deflator, 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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Consumer price index, 15 August 2008

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Moderate increase in CPI

The CPI increased by 0.1 per cent from July to August 2008, mainly due to higher prices of electricity. From August 2007 to August 2008 the CPI rose by 4.5 per cent. The CPI-ATE has increased by 2.8 per cent in the past twelve months.

Consumer price index. 1998 = 100

The consumer price index (CPI) was 123.1(1998=100) per August 2008 compared with 117.8 at the same time last year. This is equivalent to a year-to-year growth of 4.5 per cent, up from 4.3 per cent in July. The year-to year growth in the CPI-ATE was 2.8 per cent in August 2008 compared with 2.9 per cent in July 2008. The CPI-ATE fell by 0.1 per cent from July to August 2008.

Higher prices of electricity

The CPI rose by 0.1 per cent from July to August 2008. The prices on electricity were the most important factor behind the growth. Due to higher spot prices the electricity including grid rent increased by 9.0 per cent. The development of prices on some services also contributed to growth in CPI. Since July the prices of accommodation- and dental-services rose by 8.9 and 2.6 per cent respectively.

Many components dampened the increase in CPI this month. The prices on clothing and shoes showed a drop of 1.4 per cent, mainly due to sales activity. Prices on food and non-alcoholic beverages decreased with 0.8 per cent. The price decrease was broadly based, but also influenced by sale-campaigns on some products and of seasonal prices. The prices of fuel and lubricants fell with 4.2 per cent compared with last month. Transport services also contributed to dampen the CPI, since the prices decreased on some transport services in Oslo. There was also a price decrease in airlines fares.

Strong year-to-year growth in CPI

CPI rose by 4.5 per cent from August 2007 to August 2008. The electricity including grid rent was still the most important factor behind the year-to-year growth, and increased by 44.3 per cent. The prices of electricity energy have doubled in the last twelve months, while the grid rent have had a moderate rise. From August last year the prices of fuel and lubricant increased by 12.0 per cent. Hotel services and personal care have also contributed to the growth in CPI.

The prices on audiovisual equipment and clothing have especially contributed to dampen the year-to-year growth in CPI, and they fell with 10.1 and 5.7 per cent respectively.

Change in year-to-year growth

The year-to-year growth in CPI increased from 4.3 per cent in July to 4.5 per cent in August. This was mainly due to higher prices on electricity including grid rent from July to August this year compared with a price decrease in the same period last year.

New weights and products in CPI

The weights in the CPI are revised yearly in August based on average expenditure shares. From August 2008 to July 2009 the weights are based on the Household Budget Survey in 2005, 2006 and 2007 . The selection of products in CPI is also revised yearly in August.

The Consumer Price Index. 1998 = 100
  Weights Index Change in per cent
  August 2008-
July 2009 		August 2008 July 2008-
August 2008 		August 2007-
August 2008 		January-August 2007-
January-August 2008
CPI All-item index 1 000.0  123.1 0.1 4.5 3.6
Food and non-alcoholic beverages  111.8  118.1 -0.8 3.9 3.8
Alcoholic beverages and tobacco 26.8  137.0 0.1 4.7 3.4
Clothing and footwear 59.1 58.4 -1.4 -4.6 -3.4
Housing, water, electricity, fuels  295.0  148.4 1.2 8.6 6.8
Furnishings household equipment 63.3  103.2 -0.2 3.6 3.0
Health 27.4  142.9 0.8 3.0 3.4
Transport  178.8  133.3 -0.7 4.6 4.1
Communications 20.9 81.0 0.1 -0.1 -5.8
Recreation and culture  120.2  110.1 -0.1 2.0 1.1
Education 2.7  150.9 - 1.4 1.4
Restaurants and hotels 34.4  141.2 1.6 4.7 5.1
Miscellaneous goods and services 59.6  128.3 0.2 3.9 3.4
           
CPI-AE    118.1 -0.1 2.6 2.3
CPI-AT    120.2 0.1 4.6 3.7
CPI-ATE    115.3 -0.1 2.8 2.3
CPI-ATE sesonal adjusted    115.8 0.2    

Kindergarten fees remains stable