Consumer price indices for the Scandinavian countries 1815-1913

Abstract

The present article examines consumer price development in the three Scandinavian countries, Denmark, Norway and Sweden, 1815-1913. A consumer price index (CPI) is constructed for Norway. It is based on consumer prices for up to nine consumption groups and 47 commodities in 40 Norwegian cities and towns. With only a few exceptions, the price data are culled from the Ingvar Wedervang Archive on prices and Wages kept at the Norwegian School of Economics and Business Administration in Bergen. The CPI for Norway is compared to corresponding CPIs for Denmark and Sweden. We trace high conformity in price waves between the countries. This can partly be explained by their imports of similar commodities, and partly by their heavy dependence on agriculture, where similar climatic fluctuations gave conformity in price movements for primary products. Finally, the significant correlation of prices gives an indication of surprisingly high integration of the inter-Scandinavian markets.