Financial News: Norway Inflation Lowest In 2 Years

Norway Inflation Lowest In 2 Years

01/10/2020 - 03:54:00 (RTTNews)

(RTTNews) - Norway's consumer price inflation eased for the second straight month in December to its lowest level in over two years, data from Statistics Norway showed on Friday.

The consumer price index climbed 1.4 percent annually in December, after a 1.6 percent increase in November. Economists had expected a rise of 1.5 percent.

The latest inflation was the lowest since November 2017, when it was 1.1 percent.

The core inflation rate slowed to 1.8 percent in December from 2.0 percent in the preceding month.

On a month-on-month basis, consumer prices fell 0.3 percent in December, reversing a 0.3 percent increase in the prior month. Economists had expected a 0.1 percent rise.

The core CPI edged down 0.2 percent in December.

Separate data from the statistical office showed that the producer prices declined 2.2 percent annually in December, following a 9.5 percent drop in November.

On a monthly basis, producer prices rose 4.1 percent in December, following a 1.7 percent increase in the preceding month.

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