Norway: Inflation hits highest level since April 2019 in January
Consumer prices increased 1.06% over the previous month in January, accelerating from the 0.44% rise logged in December. January’s result was the sharpest increase in prices since September 2012. Looking at the details of the release, food and non-alcoholic beverages prices rose in January after dropping in the previous month, while prices pressures for housing and utilities increased.
Inflation rose to 2.5% in January, above December’s 1.4%. January’s result marked the highest inflation rate since May 2019. Annual average inflation was unchanged at December’s 1.3% in January. Lastly, core inflation fell to 2.7% from the previous month’s 3.0%.