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Financial News: Norway Consumer Price Inflation Slows In March

Norway Consumer Price Inflation Slows In March

04/09/2021 - 03:19:00 (RTTNews)

(RTTNews) - Norway's consumer price inflation eased in March, data from Statistics Norway showed on Friday.

The consumer price index rose 3.1 percent year-on-year in March, after a 3.3 percent increase in February. Economists had expected rise of 3.5 percent.

Prices for furnishings, household equipment and routine maintenance grew 7.6 percent yearly in February. Prices for housing, water, electricity, gas and other fuels, and recreation and culture gained 5.7 percent and 4.4 percent, respectively.

Prices for health rose 3.3 percent and those of miscellaneous goods and services increased by 3.1 percent, respectively. Prices for communication and education gained by 2.2 percent and 2.1 percent, respectively.

The core inflation rate remained unchanged at 2.7 percent in March. This was in line with economists expectation.

On a month-on-month basis, consumer prices fell 0.3 percent in March, after a 0.7 percent growth in the prior month.

The core CPI rose 0.3 percent monthly in March, same as seen in the preceding month.

The EU measure of harmonized index of consumer prices, or HICP, rose 3.4 percent yearly in March, following a 3.6 percent increase in the prior month.

On a monthly basis, the HICP fell 0.3 percent in March, following a 0.8 percent increase in the preceding month.

Separate data from the statistical office showed that the producer price index accelerated 18.4 percent annually in March, following a 9.7 percent increase in February.

On a monthly basis, producer prices fell 0.2 percent in March, after a 5.4 percent rise in the preceding month.

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