Norway: Inflation ticks up in August
September 10, 2012
In August, consumer prices fell 0.4% over the previous month, which was a notch above the 0.5% decline tallied in the previous month. According to Statistics Norway, the print mainly reflected lower prices for clothing and footwear as well as for transport. Despite the monthly drop, annual headline inflation rose from 0.2% in July to 0.5% in August. That said, the print undershot market expectations that had inflation accelerating further to 1.1%. Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, declined 0.7% over the previous month, which was below the flat reading observed in July. On an annual basis, core inflation inched down from 1.3% in July to 1.2% in August.