Norway Inflation Rises To 7-month High

(RTTNews) - Norway's consumer price inflation accelerated less-than-expected in October to the highest level in seven months, Statistics Norway said Tuesday.

Consumer price inflation climbed to 3.6 percent in October from 3.4 percent in April. The expected inflation rate was 3.7 percent. Moreover, a similar higher rate was last seen in March.

At the same time, core inflation, which excludes tax changes and energy products, eased to a 3-month low of 2.7 percent from 3.0 percent.

On a monthly basis, consumer prices moved up 0.3 percent, and core consumer prices gained 0.6 percent.

Data showed that transport inflation rose to 1.9 percent from 1.1 percent. Similarly, the annual price growth in housing and utilities accelerated to 3.6 percent from 3.3 percent.

Meanwhile, inflation based on food and non-alcoholic beverages eased to 1.4 percent from 2.4 percent, and clothing and footwear prices increased at a slower pace of 0.4 percent versus 2.2 percent in September.