Norway: Inflation rises in October
November 9, 2012
In October, consumer prices rose 0.5% over the previous month, which followed the 0.9% increase tallied in September. According to Statistics Norway, the monthly rise was mainly due to an increase in prices on housing, water, electricity and fuels. As a result, annual headline inflation rose from 0.5% in September to 1.1% in October, overshooting market expectations of 0.9%. Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, remained flat over the previous month, which was below the 1.2% rise observed in September. Consequently, annual core inflation inched up from 1.2% in September to 1.3%.