Norway: Inflation stabilizes in November
December 10, 2012
In November, consumer prices rose 0.1% over the previous month, which followed the 0.5% increase tallied in October. According to Statistics Norway, the monthly rise mainly reflected how a sharp drop in prices for transport was more than offset by rising prices in most of the remaining categories. In particular, the largest increase was seen in housing, water, electricity and fuels. As a result, annual headline inflation stabilized at October's 1.1%, matching market expectations.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, remained unchanged over the previous month for a second month in a row. Despite the flat reading, annual core inflation stepped up from 1.1% in October to 1.3%.