Norway Core Consumer Price Index (CPI) m/m
Norwegian Core Consumer Price Index (Core CPI) m/m reflects changes in prices of a basket of consumer goods and services in the given month compared to the previous month. The index reflects price changes from the perspective of households who are the end consumers of goods and services.
The CPI is calculated using data from different sources: online surveys, turnover information from Statistics Norway's Business Register, commodity trade statistics and budget shares from the household budget survey. Norwegian Consumer Price Index data is additionally submitted to Eurostat and is included in the European statistics.
The consumer price index is calculated as a change in the value of goods and services from the fixed consumer basket, which consists of 650 goods and services. The core CPI does not include food, alcohol, tobacco and energy prices due to their high volatility. The core index ignores goods and services, which are not part of households' final consumer spending, as well as some categories of expenses which cannot be included in the single system, such as gambling, imputed rental of housing, life insurance, state health insurance, financial intermediation services indirectly measured, etc.
Consumer Price Index is one of key indicators to measure inflation. The CPI is used as the basis for payment revisions, as well as a deflator in the calculation of the Retail Sales indicator. A higher than expected CPI reading is considered positive for NOK quotes, while lower readings are considered negative.
The chart of the entire available history of the "Norway Core Consumer Price Index (CPI) m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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