Norway: Inflation inches up in September
October 9, 2015
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease recorded in August but undershot market expectations of a 0.7% increase. The reading marked the highest figure in over a year. According to Statistics Norway, the increase was mainly driven by higher prices for clothing as this time of year marks the end of seasonal sales, and an introduction of autumn and winter clothing.
Inflation in September increased from August’s 2.0% to 2.1%. Annual average inflation in September was steady at August’s reading of 2.0%.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, increased 0.8% over the previous month, which contrasted the 0.2% decrease observed in August. Annual core inflation came in at 3.1% in September, which was up from August’s reading of 2.9%.
Author: Robert Hill, Economist