Underlying price growth

Underlying price growth - it is often interesting to look at what the consumer prices would have been had there not been changes in, for example, indirect taxes and energy, the so-called underlying consumer price growth. Statistics Norway publishes three indicators aimed at measuring developments in the underlying consumer price growth: the consumer price index excluding energy products (KPI-JE/CPI-AE), the consumer price index adjusted for changes in indirect taxes (KPI-JA/CPI-AT), and the consumer price index adjusted for changes in indirect taxes and excluding energy products (KPI-JAE/CPI-ATE). All the indicators are derived from the standard Consumer Price Index. The background to the development of KPI-JA/CPI-AT and KPI-JAE/CPI-ATE was Norges Bank's new monetary policy remit from2001, inwhich the monetary policy instruments are aimed at achieving stable and low inflation. The development of an indicator for consumer price growth corrected for changes in duties and excluding energy products will provide the basis for assessing the results of this monetary policy.