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Financial News: Norway Consumer Price Inflation Slows In September

Norway Consumer Price Inflation Slows In September

10/09/2020 - 07:28:00 (RTTNews)

(RTTNews) - Norway's consumer price inflation eased in September after rising in the previous month, data from Statistics Norway showed on Friday.

The consumer price index rose 1.6 percent year-on-year in September, after a 1.7 percent increase in August. Economists had expected a 2.0 percent rise.

Prices for furnishings, household equipment and routine maintenance grew 8.1 percent yearly in September. Communication cost gained 5.7 percent and those of recreation and culture rose 4.3 percent.

Prices for miscellaneous goods and services, and food and non-alcoholic beverages rose by 4.0 percent and 3.8 percent. Prices for alcoholic beverages and tobacco increased by 2.6 percent.

The core inflation rate eased to 3.3 percent in September from 3.7 percent in the preceding month. Economists had expected a rate of 3.5 percent.

On a month-on-month basis, consumer prices rose 0.4 percent in September, reversing a 0.4 percent decrease in the prior month.

The core CPI rose 0.2 percent monthly in September.

The EU measure of harmonized index of consumer prices, or HICP rose 1.4 percent yearly in September, after a 1.6 percent increase in the prior month.

On a monthly basis, HICP rose 0.4 percent in September, after a 0.5 percent decrease in the preceding month.

Separate data from the statistical office showed that the producer price index declined 9.6 percent annually in September, following a 12.1 percent decrease in August.

On a monthly basis, producer prices rose 2.8 percent in September, after a 1.2 percent increase in the preceding month.

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