Norway: Inflation slips in April
May 10, 2017
Consumer prices in April rose 0.2% from the previous month, slightly below March’s 0.3% rise. According to Statistics Norway, the price increase was driven by higher prices for clothing and footwear and transportation, while prices for food, beverages and tobacco declined.
Inflation came in at 2.2% in April, below March’s 2.4% and the lowest figure since December 2015. Meanwhile annual average inflation was 3.3% in April, down from 3.4% in the previous month, as the downward trend of consumer price inflation in Norway continues after inflation peaked in July 2016.
The core consumer price index, which excludes taxes, fees and energy prices, increased by 0.3% month-on-month in April (March: +0.4% mom). Core inflation was steady at 1.7% in April.