Norway: Inflation slows in January
February 11, 2013
In January, consumer prices fell 0.2% over the previous month, which contrasted the 0.3% increase tallied in December. According to Statistics Norway, the monthly print mainly reflected a sharp drop in prices for clothing and footwear as well as for furnishing and household equipment. As a result, annual headline inflation fell from 1.4% in December to 1.3% in January. That said the reading overshot market expectations of 1.2%.
Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, fell 0.5% in January (December: -0.1% month-on-month), driving annual core inflation to 1.2%, which is a notch up from the 1.1% seen in December.