Norway Inflation Rises To 3.4%

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(RTTNews) - Norway's consumer price inflation increased in September but core inflation remained stable, Statistics Norway said Friday. Consumer price inflation rose to 3.4 percent in September from 3.3 percent in April. A similar higher rate was last seen in April.

At the same time, core inflation, which excludes tax changes and energy products, remained unchanged at 3.0 percent in September.

On a monthly basis, consumer prices moved up 0.5 percent and core consumer prices gained 0.2 percent.

Data showed that food and non-alcoholic beverages prices rose 2.4 percent and clothing and footwear gained 2.2 percent. Housing and other utility costs moved up 3.5 percent. Costs of transport and health climbed 4.8 percent and 4.9 percent, respectively.

In a separate communiqué, the statistical office said higher refined petroleum product prices pushed up producer price inflation to a four-month high in September. Producer prices grew 9.2 percent year-on-year in September, faster than the 7.9 percent increase in August. This was the highest rate since May.

The strong increase in refined petroleum product prices was connected to the price growth in crude oil extraction in July, as they were closely correlated with time lag, the office said. Compared to last year, refined petroleum product prices surged 47.0 percent.