Norway: Inflation comes in at highest level since October 2008 in December
Consumer prices increased 0.68% in December over the previous month, slowing down from the 0.77% increase logged in November. The slowdown was largely due to softer growth in prices for housing and utilities. In addition, price pressures for food and non-alcoholic beverages decreased at a quicker pace.
Inflation came in at 5.3% in December, which was up from November’s 5.1%. December’s reading was the highest inflation rate since October 2008. Consequently, the trend pointed up, with annual average inflation coming in at 3.5% in December (November: 3.2%). Lastly, core inflation rose to 1.8% in December, from November’s 1.3%.