Norway: Inflation drops sharply in November
December 10, 2020
Consumer prices fell 0.71% over the previous month in November, contrasting October's 0.27% rise. November's result marked the sharpest fall in prices since August 2019. The reading was primarily due to plunging prices for housing and utilities while transportation costs also decreased.
Inflation fell to 0.7% in November, from October’s 1.7%. November's figure marked the weakest inflation rate since March. Annual average inflation edged down to 1.3% in November (October: 1.4%), while core inflation fell to 2.9% from the previous month's 3.4%.
Author: Stephen Vogado, Economist