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107147
CPI up 3.2 per cent in last twelve months
statistikk
2013-09-10T10:00:00.000Z
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 2013

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CPI up 3.2 per cent in last twelve months

The Consumer Price Index (CPI) decreased by 0.1 per cent from July to August, mainly due to discount activity on furniture and food. The year-to-year growth in the CPI was 3.2 per cent in August, while the CPI-ATE increased 2.5 per cent in the same period.

Consumer Price Index 1998=100Published 10 September 2013
Monthly change (per cent)12-month rate (per cent)Index
July 2013 - August 2013August 2012 - August 2013August 2013
CPI All-item index-0.13.2134.2
Food and non-alcoholic beverages-0.72.9127.1
Housing, water, electricity, gas and other fuels0.17.5165.3
Transport-0.12.3146.8
Recreation and culture0.01.6117.4
Clothing and footwear0.21.052.4
 
CPI-ATE (july 1999 = 100)-0.12.5124.9
 
CPI by delivery sector
Other consumer goods produced in Norway-0.69.1161.3
Imported consumer goods-0.20.789.1
Other services with wages as dominating price factor0.23.5202.8

Source: Statistics Norway

Figure 1. Consumer Price Index. Percentage change from the same month one year before

The CPI was 134.2 (1998=100) in August 2013, compared to 130.0 in the same month the year before.

Monthly change: lower prices on furniture and food

From July to August, the CPI fell by 0.1 per cent. The greatest contributors to the decrease in the CPI were reduced prices on furniture and food. The group furniture, carpets etc. showed a price fall of 4.4 per cent due to discount activity during this period, while food prices fell 0.8 per cent. Airfares went down 5.3 per cent from July to August.

Several groups contributed to pulling the CPI in the opposite direction. From July to August, book prices went up by 10.9 per cent. Telephone services, operation of personal transportation equipment and imputed rental for home owners also showed increased prices. Prices of hotel services rose, as usual, from July to August – this time by 5.5 per cent.

Year-to-year growth: electricity prices continued to contribute the most

The CPI rose by 3.2 per cent from August 2012 to August 2013. The main contributor to the year-to-year growth was the 28.6 per cent increase in prices of electricity including grid rent. The CPI without electricity (CPI-AEL) rose 2.3 per cent in the last twelve months, meaning electricity prices including grid rent pulled the CPI up 0.9 percentage points in the period.

Other important contributors to the growth in the CPI were imputed rentals for home owners, which rose by 3.4 per cent from August last year. Prices of operation of personal transportation equipment went up by 3.2 per cent. Services such as transportation and restaurants showed price increases of 5.1 and 3.2 per cent respectively in this twelve-month period.

For the first time in twelve years, clothing prices showed a positive year-to-year change in the month of August. Audio visual equipment had a positive year-to-year growth for the first time since the summer of 1994.

The main contributor to dampening the increase in the CPI in the last twelve months was a price fall in games, toys and hobbies, together with domestic appliances of 5.9 and 2.2 per cent respectively.

Change in the year-to-year growth: further rise in price growth

The year-to-year growth in the CPI rose from 3.0 per cent in July to 3.2 per cent in August. The main contributor was the development of airline fares, which fell by over 25 per cent from July to August last year while only falling slightly more than 5 per cent in the same period this year. Clothing prices went up marginally from July to August this year while falling slightly more than 2 per cent in the same period in 2012. Food prices fell less from July to August this year than in the corresponding period last year.