Norway: Inflation in August hits highest level since January
September 10, 2020
Consumer prices fell 0.35% in August over the previous month, swinging from July's 0.71% increase. August's result marked the sharpest fall in prices since August 2019. Looking at the details of the release, food and non-alcoholic beverages, transportation, and clothing and footwear prices dropped in August compared to the previous month.
Inflation came in at 1.7% in August, above July’s 1.3%. August's reading marked the highest inflation rate since January. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 1.4% in August (July: 1.3%). Lastly, core inflation rose to 3.7% from July’s 3.5%.
Author: Stephen Vogado, Economist