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Financial News: Norway's Inflation Slows In October

Norway's Inflation Slows In October

11/10/2017 - 02:26:00 (RTTNews)

(RTTNews) - Norway's inflation slowed more than expected in October, data from Statistics Norway showed Friday.

Consumer prices climbed 1.2 percent year-on-year in October, slower than the 1.6 percent increase seen in September. Prices were forecast to gain 1.4 percent.

On a monthly basis, consumer prices edged up 0.1 percent, also weaker than the expected 0.3 percent increase.

Meanwhile, core inflation accelerated to 1.1 percent in October from 0.9 percent a month ago.

Inflation, based on the harmonized index of consumer prices, slowed to 1 percent from 1.6 percent in September. Compared to September, the index remained unchanged.

Another report from the statistical office showed that producer price inflation rose to 9 percent in October from 8.7 percent in the previous month.

Month-on-month, producer prices climbed 2.5 percent in October, following a 2.9 percent rise in September.

The main reason for the increase in producer prices was higher natural gas cost. Prices on natural gas increased by over 15 percent from September.

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