Norway: Inflation continues to decline
June 12, 2017
Consumer prices in May rose 0.2% from the previous month, matching April’s reading. The result was driven by higher prices for food and non-alcoholic beverages while prices for transport and communications declined slightly, according to Statistics Norway.
Inflation came in at 2.1% in May, below April’s 2.2% and the lowest figure since September 2015. Annual average inflation was 3.2% in May, down from 3.3% in the previous month, as the downward trend of consumer price inflation in Norway continues after inflation peaked in July 2016.
The core consumer price index, which excludes taxes, fees and energy prices, increased by 0.3% month-on-month in May (April: +0.3% mom). Core inflation inched down from 1.7% in April to 1.6% in May.