Norway’s consumer price inflation accelerated at a slower-than-expected pace in September, though slightly, figures from Statistics Norway showed Friday.
The consumer price index rose 2.1 percent year-over-year in September, following a 2.0 percent climb in the previous month. Economists had expected the inflation to increase to 2.2 percent.
Core inflation also accelerated to 3.1 percent September from 2.9 percent in August. The expected rate of rise was 3.0 percent.
Prices of food and non-alcoholic beverages grew 4.2 percent annually in September and clothing and footwear prices went up by 3.4 percent. Meanwhile, utility costs dropped 0.4 percent.
Month-on-month, consumer prices climbed 0.6 percent in September, just below economists’ expectations for a 0.7 percent increase. In August, prices had risen 0.5 percent.
The EU measure of inflation, or HICP rose at a slightly faster pace of 1.9 percent yearly in September, after a 1.8 percent hike in the preceding month.
On a monthly basis, the harmonized index of consumer prices grew 0.8 percent in September, driven by higher prices of clothing, electricity and furniture.
In an another report, the statistical office announced that producer prices plunged 10.1 percent in September from a year ago, following a 10.1 percent decline in August. Prices have been falling since July last year.
Monthly, producer prices edged down 0.2 percent in September, but much slower than the 4.3 percent drop in the prior month. It was the third month of decrease in a row.
The material has been provided by InstaForex Company – www.instaforex.com