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Financial News: Norway's Inflation Accelerates In December

Norway's Inflation Accelerates In December

01/10/2018 - 02:30:00 (RTTNews)

(RTTNews) - Norway's inflation accelerated more-than-expected in December, figures from Statistics Norway showed Wednesday.

Inflation rose to 1.6 percent from 1.1 percent in November. Economists had forecast consumer prices to grow 1.5 percent.

Likewise, core inflation came in at 1.4 percent compared to 1 percent a month ago. Economists had forecast the rate to ease to 1.2 percent.

In 2017, inflation was 1.8 percent and core inflation at 1.4 percent.

On a monthly basis, consumer prices remained flat in December, while it was forecast to drop 0.1 percent.

Another report showed that producer price inflation eased to 7.3 percent from 9.7 percent in November.

Month-on-month, producer prices climbed 2.9 percent in December, which was the fifth consecutive rise, but slower than November's 3.2 percent increase.

"The PPI is now at its highest level since the drop in the oil price during the fall of 2014," the statistical office said.

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