Norway Consumer Price Inflation Accelerates In January

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Statistics Norway announced on Wednesday that the consumer price index rose 2.5% year-on-year in January, faster than the 2% growth in the previous month. Economists had expected prices to rise by 2.1%.

The jump in inflation was mainly due to an increase in electricity costs, the statistical agency said. The housing, water, electricity & fuels component increased 2.4% in January.

On a monthly basis, consumer prices rose 0.2% in January - again missing expectations for a 0.2% fall, after the 0.2% growth in December.

Excluding volatile factors, consumer prices grew 2.3% on a yearly basis but fell 0.6% on a monthly basis- roughly in line with expectations.

Statistics Norway announced on Wednesday that the consumer price index rose 2.5% year-on-year in January, faster than the 2% growth in the previous month. Economists had expected prices to rise by 2.1%. (Market News Provided by RTTNews)