Norway: Inflation unchanged in April
May 11, 2015
In April, consumer prices rose 0.4% over the previous month, which was slightly above the 0.3% increase recorded in March and in line with market expectations. According to Statistics Norway, the increase was mainly driven by a sharp increase in the prices of recreational and cultural items. This marks the second month in a row in which this component was the biggest contributor to inflation.
April’s annual headline inflation reading was stable at March’s 2.0%. Annual average inflation in April also remained at the previous month’s 2.0%
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.4% over the previous month, which is unchanged from March’s reading. Annual core inflation inched down from March’s 2.3% to 2.1% in April.
Author: Robert Hill, Economist