Norway Inflation Accelerates … RTT
Norway Inflation Accelerates In April
Norway’s consumer price inflation accelerated in April, Statistics Norway reported Wednesday.
Consumer prices climbed by more-than-expected 2.4 percent year-on-year in April, faster than the 2.2 percent increase in March.
A similar higher rate was last seen in March 2017. Prices were forecast to rise 2.3 percent.
Similarly, core inflation improved to 1.3 percent from 1.2 percent in the previous month.
Prices of food and non-alcoholic beverages moved up 3.9 percent, while clothing and footwear prices fell 5.3 percent. Cost of education surged 6 percent and housing and other utility charges advanced 4 percent.
On a monthly basis, consumer prices climbed 0.4 percent, as expected, and core consumer prices gained 0.5 percent.
Another report from statistical office showed that producer price inflation hit one-year high in April. Producer prices grew 12.2 percent annually after rising 6.4 percent in March.
Month-on-month, producer prices rose 3.3 percent following March’s 0.5 percent increase.
by RTTNews Staff Writer