Norway: Inflation remains stable in June
July 10, 2012
In June, consumer prices fell 0.5% over the previous month, which was below the flat reading observed in May. According to Statistics Norway, the print mainly reflected lower prices for furnishing household equipment as well as for clothing and footwear. Despite the monthly price drop, annual headline inflation remained unchanged at May's 0.5%, which was below the 0.8% expected by the market. Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, fell 0.3% over the previous month, which contrasted the 0.4% rise observed in May. On an annual basis, core inflation eased from May's 1.4% to 1.2%, undershooting market expectations of 1.6%.