Financial News: Norway Inflation Rises To 3-month High

Norway Inflation Rises To 3-month High

(RTTNews) - Norway's consumer price inflation accelerated in May to the highest level in three months after easing in the previous two months, Statistics Norway reported Tuesday.

The consumer price index registered an annual growth of 3.0 percent versus 2.5 percent in April.

Prices for food and non-alcoholic beverages grew 5.3 percent from last year, and those for housing and utilities were 5.2 percent more expensive. Health costs increased 4.3 percent, while clothing and footwear prices droppd 1.8 percent.

Core inflation, which excludes energy prices and tax changes, moderated to 2.8 percent from 3.0 percent.

On a monthly basis, consumer prices moved up 0.4 percent in May, slower than the 0.7 percent gain in April.

Seprate official data showed that producer prices dropped 0.1 percent annually in May, reversing a 2.1 percent rise in April. Moreover, this was the first decline in seven months.

Prices for extraction and related services alone fell by 7.2 percent, and those for energy goods were 3.9 percent less expensive. Monthly, producer prices declined 3.0 percent.

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