Norwegian Consumer Price Index m/m reflects the dynamics of consumer prices for goods and services purchased by private households. The index estimates the price change from the consumer perspective, in the given month compared to the previous month. This indicator variant reflects seasonality adjusted data to enable a more correct evaluation of changes over time. For example, seasonal adjustment is very important for price statistics of clothes and shoes, which are strongly influenced by seasonal sales.
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.