Norway’s consumer price inflation increased in December after easing in the previous two months, data from Statistics Norway showed on Friday.
The consumer price index rose 3.2 percent year-over-year in December, faster than the 3.0 percent gain in November. This was the highest inflation in three months. Meanwhile, economists had expected inflation to remain stable at 3.0 percent.
The annual price growth in food and non-alcoholic beverages accelerated to 5.2 percent from 4.7 percent. Similarly, inflation based on transportation rose to 2.7 percent from 2.2 percent. Costs for housing and utilities rose 3.9 percent versus 3.7 percent in November.
Core inflation, which excludes energy prices and tax changes, increased marginally to 3.1 percent in December from 3.0 percent in the previous month.
On a monthly basis, consumer prices edged up 0.1 percent in December, the same as in the previous two months.
Separate official data showed that producer prices plunged 11.1 percent annually in December, following a 9.0 percent decline in November. Costs in connection with extraction and related services fell sharply by 27.9 percent. Prices have been falling since March. Monthly, producer prices dropped 1.5 percent.
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