Developments in Consumer Prices Since 2009

Abstract

In 2009, consumer price inflation adjusted for tax changes and excluding energy products (CPI-ATE) was 2.6 percent. Inflation has since slowed, hovering around 1 percent for the past two years. The aim of this Economic Commentary is to explore the decrease in consumer price inflation since 2009. The analysis is limited to key subcomponents of the CPI-ATE, given developments in assumed primary economic driving forces such as labour costs, productivity, the krone exchange rate and import prices.