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Financial News: Norway Inflation Steady In July

Norway Inflation Steady In July

08/09/2019 - 07:56:00 (RTTNews)

(RTTNews) - Norway's consumer price inflation was steady in July,while core price growth eased, figures from Statistics Norway showed on Friday.

The consumer price index rose 1.9 percent year-on-year in July, same rate as seen in June. Economists had expected a 1.8 percent rise.

The core inflation slowed to 2.2 percent from 2.3 percent in the prior month.

Prices for education grew by 4.8 percent annually in July and those of recreation and culture rose by 2.8 percent. Prices for restaurants and hotels, and alcoholic beverages and tobacco rose by 2.5 percent, each.

On a monthly basis, consumer prices rose 0.7 percent in July following a 0.1 percent climb in the preceding month. Economists had expected a 0.6 percent rise.

The core CPI rose 0.6 percent monthly in July, same rate as seen in June.

Separate data from the Statistics Norway showed that the producer price index declined 8.6 percent yearly in July following a 6.5 percent fall in June.

On a month-on-month basis, producer prices fell 1.2 percent in June, following a 4.0 percent decrease in the previous month.

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