Norway Inflation Slows In November

(RTTNews) - Norway's inflation slowed marginally in November, while core inflation eased markedly, Statistics Norway reported Wednesday.

Consumer prices advanced 3 percent year-on-year in November, weaker than the 3.1 percent rise in October. A similar lower rate was last reported in June.

Similarly, core inflation softened to 3 percent from 3.4 percent a month ago.

Month-on-month, consumer prices grew only 0.1 percent as prices of food and non-alcoholic beverages decreased 1 percent.

Earlier in November, Norges Bank left its key interest rate unchanged at 4.00 percent after reducing rates by 25 basis points each in September and June. The central bank governor said the bank is not in a hurry to reduce the rate and the job of tackling inflation has not been fully completed.