Norway: Inflation inches up in May
June 10, 2015
In May, consumer prices rose 0.2% over the previous month, which was slightly below the 0.4% increase recorded in April and in line with market expectations. According to Statistics Norway, the increase was mainly driven by an increase in the prices of food and non-alcoholic beverages.
May’s annual headline inflation reading inched up from April’s 2.0% to 2.1%. Annual average inflation in May remained at the previous month’s 2.0%
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.5% over the previous month, which was slightly above April’s reading of 0.4%. Annual core inflation ticked up from April’s 2.1% to 2.4% in May.
Author: Robert Hill, Economist