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Financial News: Norway's Inflation Steady At 2.2%

Norway's Inflation Steady At 2.2%

04/10/2018 - 02:27:00 (RTTNews)

(RTTNews) - Norway's consumer prices logged a steady growth in March, figures from Statistics Norway showed Tuesday.

Consumer prices climbed 2.2 percent year-on-year in March, the same rate of increase as seen in February. The rate was forecast to rise to 2.4 percent.

However, core inflation eased to 1.2 percent from 1.4 percent. Economists had expected the rate to remain unchanged at 1.4 percent.

Among components of the consumer price index, cost of education showed the biggest annual growth of 6 percent followed by a 4.6 percent rise in housing, water, electricity, gas and other fuels cost. Meanwhile, clothing and footwear prices fell 5.6 percent.

On a monthly basis, overall consumer prices gained only 0.3 percent compared to the expected increase of 0.6 percent.

Another report from the statistical office showed that producer price inflation accelerated to 6.4 percent in March from 4.7 percent a month ago.

Month-on-month, producer prices recovered 0.5 percent in March, following February's 2.6 percent fall.

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