In May, consumer prices remained flat over the previous month, which contrasted the 0.1% rise observed in April. According to Statistics Norway, the subdued reading reflected how a rise in prices for food and non-alcoholic beverages as well as for household equipment was offset by lower costs for clothing and footwear as well as for utilities. Despite the flat reading, annual headline inflation increased from 0.3% in April to 0.5% in May. Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.4% over the previous month, which was above April's 0.1% increase. On an annual basis, core inflation jumped from April's 0.7% to 1.4%, overshooting market expectations of 1.1%.
Inflation ticks up in May
June 11, 2012
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Norway Economic News
October 10, 2016
In September, consumer prices climbed 0.3% from the previous month, which contrasted August’s reading (-0.5% month-on-month) but undershot market expectations of a 0.7% increase.
October 7, 2016
In August, industrial production decreased 4.7% over the previous month in seasonally-adjusted terms, which contrasted the 4.7% expansion recorded in July and marked the lowest reading since April 2015.
September 22, 2016
At its 21 September policy meeting, Norges Bank (NB) decided to leave its key policy rate at the all-time low of 0.50%, as was expected by market participants. Norges Bank noted that global growth was moderate and that in the medium term import demand from its main trading partners will be lower than previously expected.
September 9, 2016
In August, consumer prices dropped 0.5% over the previous month, which contrasted July’s reading (+0.6% month-on-month) and undershot market expectations of a 0.4% drop.
September 7, 2016
In July, industrial production expanded 5.5% over the previous month in seasonally-adjusted terms, which marked a rebound from the 4.7% fall recorded in June and represented the highest reading since October 2012.