Norwegian Consumer Price Index y/y reflects the dynamics of consumer prices for goods and services purchased by private households. The index estimates price changes from the perspective of the consumer, in the given month compared to the same month a year ago.
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.