Norway: Inflation hits three-month high in July
Consumer prices increased 0.87% in July over the previous month, accelerating from June’s 0.35% rise. July’s reading marked the sharpest increase in prices since January. The acceleration was largely due to rising prices for housing and utilities. In addition, price pressures for transportation, as well as for food and non-alcoholic beverages, increased at a stronger pace.
Inflation came in at a three-month high of 3.0% in July, up from June’s 2.9%. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 2.3% in July (June: 2.2%). Lastly, core inflation edged down to 1.2% in July, from the previous month’s 1.4%.