realforbruk

Realforbruk, or real consumption, refers to the value of goods and services purchased by households after removing the effects of inflation. It is expressed in constant prices, typically using a fixed base year or a chain-weighted price index, so changes reflect real changes in quantity and welfare rather than price movements. Realforbruk contrasts with nominal consumption, which is measured in current prices and can be distorted by inflation.

Realforbruk is calculated by deflating nominal household final consumption expenditure with a price index such as the consumer price index or a chain-price index. This deflation yields a series that allows comparison of consumption levels over time in consistent purchasing power terms. It is a component of national accounts and is closely related to measures of household welfare and living standards.

In macroeconomic analysis, realforbruk is used to assess consumer demand independent of price changes, track living standards, and study business cycles. It also supports cross-temporal comparisons within a country and, when adjusted for price level differences, cross-country comparisons of consumer demand. Policymakers monitor realforbruk to understand how households respond to income changes, interest rates, and inflation.

Limitations include sensitivity to the chosen price index and base year, potential quality changes in goods and services, and substitution biases in consumer baskets. Realforbruk provides an essential but imperfect view of household welfare, best interpreted alongside other indicators such as real income, saving rates, and total GDP.