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Financial News: Norway Inflation Eases As Expected In May

Norway Inflation Eases As Expected In May

06/09/2017 - 03:16:00 (RTTNews)

(RTTNews) - Norway's consumer price inflation eased as expected in May, though marginally, figures from Statistics Norway showed Friday.

The consumer price index rose 2.1 percent year-over-year in May, slightly slower than the 2.2 percent climb in April. The figure also matched consensus estimate.

Moreover, inflation moderated for the seventh successive month in May.

Prices of food and non-alcoholic beverages increased 0.7 percent annually in May and those of clothing and footwear went up by 1.9 percent.

Month-on-month, consumer prices edged up at a stable rate of 0.2 percent in May, in line with expectations.

Another report from the statistical office showed that producer price inflation eased to 8.9 percent in May from 12.8 percent in the preceding month. Monthly, producer prices decreased 0.8 percent after a 2.1 percent fall in April.

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