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Financial News: Norway Inflation Rise In January

Norway Inflation Rise In January

02/10/2020 - 06:07:00 (RTTNews)

(RTTNews) - Norway's consumer price inflation rose at a faster-than-expected rate in January, data from Statistics Norway showed on Monday.

The consumer price index rose 1.8 percent annually in January, following a 1.4 percent increase in December. Economists had expected a rise of 1.2 percent. A similar higher inflation was seen in October.

The core inflation rate was 2.9 percent in January, following a 1.8 percent rise in the preceding month.

On a month-on-month basis, consumer prices remained unchanged in January, after a 0.3 percent fall in the prior month. Economists had expected a 0.7 percent fall.

The core CPI rose 0.4 percent monthly in January, after a 0.7 percent fall in the preceding month.

Separate data from the statistical office showed that the producer prices declined 3.9 percent annually in January, following a 2.2 percent drop in December. The prices declined for the eighth month.

On a monthly basis, producer prices fell 1.3 percent in January, after a 4.9 percent increase in the preceding month. This was the first fall in five months.

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