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Financial News: Norway Consumer Price Inflation Slows; Producer Prices Ris

Norway Consumer Price Inflation Slows; Producer Prices Rises

06/10/2021 - 05:40:00 (RTTNews)

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

The consumer price index rose 2.7 percent year-on-year in May, after a 3.0 percent increase in April. Economists had expected a 2.9 percent rise.

Prices for housing, water, electricity, gas and other fuels increased 7.6 percent yearly in May. Prices for furnishings, household equipment and routine maintenance, and recreation and culture gained 2.8 percent, each.

Prices for health rose 3.7 percent and those of miscellaneous goods and services increased by 2.6 percent.

The core inflation rate eased to 1.5 percent in May from 2.0 percent increase in April. Economists had expected a 2.0 percent rise.

On a month-on-month basis, consumer prices fell 0.1 percent in May, after a 0.3 percent rise in the prior month.

The core CPI fell 0.4 percent monthly in May, after a 0.1 percent gain in the preceding month.

The EU measure of harmonized index of consumer prices, or HICP, rose 2.8 percent yearly in May, after a 3.2 percent increase in the prior month.

On a monthly basis, the HICP fell 0.2 percent in May, after a 0.3 percent increase in the preceding month.

Separate data from the statistical office showed that the producer price index accelerated 29.4 percent annually in May, following a 22.5 percent increase in April.

On a monthly basis, producer prices rose 2.8 percent in May, following a 0.1 percent increase in the preceding month.

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