Norway: Inflation falls to six-month low in November
December 10, 2014
In November, consumer prices rose 0.1% over the previous month, which followed the 0.1% increase tallied in October. The print was in line with market expectations. According to Statistics Norway, the monthly print mainly reflected much higher prices for clothing and footwear as well as a significant increase in prices for recreation and culture.
Annual headline inflation inched down from 2.0% in October to 1.9% in November, which marked the lowest print in six months. Annual average inflation inched down from October’s 2.1% to 2.0% in November.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.1% in November (October: +0.2% month-on-month). Annual core inflation inched down from 2.5% in October to 2.4% in November.