The consumer price index (CPI) shows that prices fell sharply in the last year – news Møre og Romsdal – Local news, TV and radio

The consumer price index (CPI) rose by 3.3 per cent from September last year to September this year. This is shown by figures from Statistics Norway (SSB). Price growth is therefore lower than earlier this year. The CPI is a measure of how the prices of goods and services in society are rising. The index is usually compared with consumption, i.e. the consumption of goods and services, in the previous year. The figure is published by Statistics Norway every month and the CPI is often used as a measure of inflation. Consumer Price Index (CPI) Shows how the prices of the goods and services that private households demand change. In other words, the CPI shows changes in the consumer prices of goods and services. The consumer price index is usually compared with consumption the previous year. The goods and services that accounted for the largest part of the household budget receive the greatest value. The CPI is often used as a measure of inflation. CPI adjusted for tax changes and excluding energy goods (CPI-JAE) can be used as a measure of underlying development in consumer prices, or underlying inflation. Statistics Norway calculates the consumer price index. Historically high level The consumer price index fell slightly from July to August this year. It was then 4.8 per cent higher than in August a year ago. It is common for food prices to fall from July to August, and this year a price drop of 0.8 per cent was measured. At the same time, this was the lowest increase seen since April last year. But despite the decline, price growth is still at a historically high level. From 2021 to 2022, the consumer price index was 5.8 per cent. Corresponding growth from one year to the next has not been measured since the 1980s, according to Statistics Norway. Increase in interest rates On 21 September, Norges Bank announced that the key interest rate had increased again, this time to 4.25. This was the fifth time that the rent has been raised so far this year. For many, the consequence is that their loan has become more expensive than before. The possible interest rate increase, which was announced in December, is by a further 0.25 percentage points, so that the interest rate will be 4.5. Policy rate in percent The policy rate is set eight times a year by Norges Bank. The policy interest rate governs the interest rates in the banks, and affects your housing costs. The aim of raising the interest rate is for the high prices to come down again. The forecast tells us how Norges Bank thinks interest rates will develop in the future. Read more about sources and reservations here. A higher policy rate means increased expenses if you have a mortgage 2021 2022 2023 2024 2025 2026 Forecast Norges bank



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