Norway: Inflation inches down in October
November 10, 2014
In October, consumer prices rose 0.1% over the previous month, which followed the 0.5% decrease tallied in September. 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 2.1% in September to 2.0% in October, which marked the lowest print in four months. Annual average inflation in October stabilized at September’s 2.1%.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.2% in October (September: +0.5% month-on-month). Annual core inflation rose from 2.4% in September to 2.5% in October.