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Norway Inflation August 2018

Norway: Inflation accelerates in August

Consumer prices fell 0.4% month-on-month in August, contrasting the 0.7% increase in July and marking the first decrease in seven months. According to Statistics Norway, August’s reading was due to lower prices for food and non-alcoholic beverages, which more than outweighed higher prices for clothing and footwear.

Inflation accelerated to 3.4% in August from 3.0% in July, the highest rate in over one and a half years. Annual average inflation ticked up to 2.1% in August from 1.9% in July.

Core consumer prices—which are adjusted for tax changes and exclude energy prices—fell 0.5% month-on-month in August, contrasting July’s 0.6% rise. Core inflation inched up to 1.9% in August from 1.4% in July, which was above market analysts’ expectations of 1.7%.

Norway Inflation Forecast

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