Norway: Inflation stabilizes in September
October 10, 2014
In September, consumer prices rose 0.5% over the previous month, which contrasted the 0.3% decrease tallied in August. According to Statistics Norway, the monthly print mainly reflected much higher prices for clothing and footwear as well as a significant increase in prices for housing, water, electricity, gas and other fuels.
Annual headline inflation remained at the previous month’s 2.1% in September, which undershot the 2.4% that market analysts had expected. Annual average inflation inched down from August’s 2.2% to 2.1% in September, which represented a 10-month low.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.6% in September (August: -0.5% month-on-month). Annual core inflation rose from 2.2% in August to 2.4% in September.