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Financial News: Norway Inflation Rises In December

Norway Inflation Rises In December

01/11/2021 - 05:15:00 (RTTNews)

(RTTNews) - Norway's consumer price inflation rose in December, data from Statistics Norway showed on Monday.

The consumer price index rose 1.4 percent year-on-year in December, following a 0.7 percent increase in November. Economists had expected rise of 1.2 percent.

Prices for furnishings, household equipment and routine maintenance grew 8.0 percent yearly in November. Prices for recreation and culture gained 3.8 percent and those of miscellaneous goods and services rose 4.1 percent.

Prices for alcoholic beverages and tobacco rose 2.7 percent. Prices for food and non-alcoholic beverages, and communication increased by 2.7 percent, each.

The core inflation rate rose to 3.0 percent in December from 2.9 percent in the preceding month. Economists had expected a rate of 3.1 percent.

On a month-on-month basis, consumer prices rose 0.4 percent in December, after a 0.7 percent decrease in the prior month.

The core CPI fell 0.1 percent monthly in December, following a 0.2 percent decline in the preceding month.

The EU measure of harmonized index of consumer prices, or HICP, rose 1.4 percent yearly in December, following a 0.4 percent increase in the prior month.

On a monthly basis, the HICP rose 0.6 percent in December, after a 0.9 percent decrease in the preceding month.

Separate data from the statistical office showed that the producer price index declined 5.7 percent annually in December, following a 3.4 percent decrease in November.

On a monthly basis, producer prices rose 1.6 percent in December, following a 4.5 percent gain in the preceding month.

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