Norwegian Core CPI y/y reflects changes in prices of a basket of consumer goods and services in the specified month compared to the same month a year ago. The index reflects price changes from the perspective of households who are the end consumers of goods and services. Food, alcohol, tobacco and energy are not included in the Core CPI calculation due to their high volatility.
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 Core CPI y/y reading is considered positive for NOK quotes.