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Financial News: Norway's Inflation Slows In August

Norway's Inflation Slows In August

09/11/2017 - 02:33:00 (RTTNews)

(RTTNews) - Norway's inflation slowed in August largely due to a fall in food cost, data from Statistics Norway showed Monday.

Inflation eased to 1.3 percent in August from 1.5 percent in July. Consumer prices fell 0.8 percent from July mainly due to lower food prices.

Prices of food and non-alcoholic beverages declined 3.4 percent annually and clothing and footwear prices slid 0.3 percent. Similarly, transport cost decreased 2.1 percent.

Core inflation also eased in August, to 0.9 percent from 1.2 percent in July, data showed.

Inflation, based on harmonized index of consumer prices, fell to 1.3 percent from 1.4 percent in July. On month, the HICP dropped 0.8 percent.

Another report from the statistical office showed that producer price inflation accelerated to a 3-month high of 4 percent in August from 1.8 percent in July.

Month-on-month, producer prices rose 0.4 percent in contrast to a 1 percent drop in July.

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