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Financial News: Norway Inflation Unchanged In September

Norway Inflation Unchanged In September

10/10/2018 - 03:10:00 (RTTNews)

(RTTNews) - Norway's consumer price inflation was unchanged in September at its highest level in nearly two years, after rising sharply in the previous month, figures from Statistics Norway showed on Wednesday.

The consumer price index rose 3.4 percent year-on-year, same as in August. Inflation was the highest since December 2016, when it was 3.5 percent.

The annual increase in the CPI was largely driven by strong gains in the education and utilities components.

Clothing and footwear prices tumbled and was the only component with a decline.

Core inflation, which is adjusted for tax changes and excludes energy products, was also steady at 1.9 percent.

On a month-on-month basis, the CPI rose 0.6 percent in September and the core index climbed 0.5 percent.

Separately, the statistical office announced that producer prices surged 21.1 percent year-on-year in September after a 22.8 percent jump in August.

On a monthly basis, producer prices rose 1.5 percent following a 0.6 percent increase in the previous month.

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