Norway: Inflation moderates in July
Consumer prices increased 0.71% from the last month in July, picking up from June’s 0.18% rise. July’s uptick marked the sharpest increase in prices since July 2019. The reading was driven by a strong uptick in food and non-alcoholic beverage prices, and a softer fall in prices for housing and utilities.
Inflation ticked down to 1.3% in July, from June’s 1.4%. Accordingly, the trend pointed down mildly, with annual average inflation coming in at 1.3% in July (June: 1.4%). Lastly, core inflation rose to 3.5% from the previous month’s 3.1%.