Norway: Inflation inches up in June
July 10, 2014
In June, consumer prices fell 0.2% over the previous month. The decline, which contrasted the 0.1% increase tallied in May, was in line with market expectations. According to Statistics Norway, the monthly print mainly reflected lower prices for food and non-alcoholic beverages, transport and for clothing and footwear.
Annual headline inflation inched up from the previous month’s 1.8% to 1.9% in June, which is the highest rate that has been recorded in three months. Annual average inflation, however, was stable at May’s 2.3% in June.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, fell 0.2% in June (May: +0.2% month-on-month). Annual core inflation increased slightly from 2.3% in May to 2.4% in June.