Norway: Inflation inches up in March
April 10, 2015
In March, consumer prices climbed 0.3% over the previous month, which was slightly below the 0.4% increase recorded in February. The print was slightly below the 0.4% increase that market analysts had expected. According to Statistics Norway, the figure was mainly the result of a strong increase in prices for recreation and culture.
Annual headline inflation inched up to 2.0% this month, slightly surpassing February’s reading of 1.9%. Annual average inflation remained at the previous month’s 2.0% in March.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.4% in March (February: +0.5% month-on-month). Annual core inflation inched down to 2.3% in March, from February’s 2.4%.
Author: Robert Hill, Economist