Norway: Inflation moderates in March
April 10, 2012
In March, consumer prices fell 0.15% over the previous month in seasonally adjusted terms, which contrasted the 0.31% rise observed in February. According to Statistics Norway, the price drop was the result of lower costs for electricity, which were partially offset by higher prices for clothing and footwear. Annual headline inflation declined from 1.2% in February to 0.8% in March. Meanwhile, the core inflation index, which excludes taxes, fees and energy prices, added 0.2% over the previous month, which mirrored February's figure. On an annual basis, core inflation inched up from February's 1.4% to 1.5% in March.