Norway: Inflation climbs down in March
April 10, 2017
Consumer prices in March rose 0.3% from the previous month, slightly below February’s 0.4% rise. According to Statistics Norway, the price increase was driven by higher prices for food and non-alcoholic beverages, alcoholic beverages and tobacco and furnishings, household equipment and routine maintenance.
Inflation came in at 2.4% in March (February: 2.6%), the lowest figure since December 2015. Meanwhile annual average inflation was 3.4% in March, marginally lower than February’s 3.5%.
The core consumer price index, which excludes taxes, fees and energy prices, increased by 0.4% month-on-month in March (February: +0.5% mom). Core inflation increased from 1.6% in February to 1.7% in March.