Norway: Inflation increases in October
November 10, 2020
Consumer prices increased 0.27% from the previous month in October, a smaller increase than the 0.36% increase logged in September. The softer rise was primarily driven by a milder increase in prices for housing and utilities. In addition, price pressures for food and non-alcoholic beverages dropped at a faster pace while prices for recreation and culture goods also fell.
Inflation inched up to 1.7% in October from September’s 1.6%. Meanwhile, the trend was unchanged with annual average inflation coming in at 1.4% in October for the third month running. Core inflation rose to 3.4% from the previous month's 3.3%.
Author: Stephen Vogado, Economist