The Consumer Price Index (CPI) rose 0.4 per cent from March to April. The year-to-year growth in the CPI was 2.0 per cent in March, while the CPI-ATE growth was 2.1 per cent in the same period.

The CPI was 139.3 (1998=100) in April 2015, compared to 136.6 in April 2014, which corresponds to a year-to-year growth of 2.0 per cent.

Monthly change: higher prices of package holidays

The CPI rose 0.4 per cent from March to April. The biggest contributor to the increase was expenditures in connection with recreation and culture. Since the last measurement in January, package holidays showed a seasonal price growth of 7.3 per cent. The prices of newspapers, books and stationary increased 3.2 per cent from March to April.

Prices of furnishings, household equipment and routine maintenance increased 1.3 per cent from March to April. The main contributor to this was the prices of household textiles, which increased 5.8 per cent in the period. Food prices increased 0.6 per cent from March to April, while the prices of fuels and lubricants for personal transport equipment rose 2.1 per cent.

Airfares dampened the increase in the CPI with a decrease of 8.7 per cent from March to April. The increase in the CPI was also slowed by electricity prices including grid rent, which showed a 1.5 decrease in the period.

Year-to-year growth: increased furniture prices and higher rents

The CPI rose 2.0 per cent from April 2014 to April 2015. In the period, imputed rentals of owner-occupiers increased 2.5 per cent, while actual rentals paid by tenants increased 3.0 per cent. The prices of furniture and furnishings increased 10.4 per cent, while prices of food and non-alcoholic beverages rose 2.2 per cent.

The year-to-year growth was dampened mainly by airfares, which showed a decrease of 20.5 per cent from April 2014 to April 2015. This decrease must be viewed in connection with the Easter holiday falling in April last year. The prices of clothing also dampened growth, with a 2.2 per cent decrease in the period.

Read the full story: Statistics Norway, www.ssb.no
Photo: Yngve Ask/ Innovation Norway