Norway: Inflation inches down in January
February 10, 2015
In January, consumer prices fell 0.1% over the previous month, which followed the flat reading tallied in December. The print was above the 0.3% drop that market analysts had expected. According to Statistics Norway, the monthly print mainly reflected a sharp contraction in clothing and footwear as well as a decline in recreation and culture.
Annual headline inflation inched down from 2.1% in December to 2.0% in January. Annual average inflation stabilized at the previous month’s 2.0% in January, which marked a 15-month low.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, fell 0.1% in January (December: -0.1% month-on-month). Annual core inflation stabilized at December’s 2.4% in January.