Norway Inflation Rises To 3.6% In January

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(RTTNews) - Norway's consumer price inflation increased in January to the highest level in four months, data from Statistics Norway showed on Tuesday.

The consumer price index rose 3.6 percent year-over-year in January, faster than the 3.2 percent gain in December. Meanwhile, economists had expected inflation to ease to 3.1 percent.

Inflation based on transportation accelerated to 4.4 percent from 2.7 percent, and that for housing and utilities rose to 4.3 percent from 3.9 percent. Clothing and footwear prices showed a renewed increase of 0.7 percent, while the annual price growth in food and non-alcoholic beverages moderated to 4.2 percent from 5.3 percent.

Core inflation, which excludes energy prices and tax changes, increased to 3.4 percent in January from 3.2 percent in the previous month.

On a monthly basis, consumer prices rose 0.6 percent in January, following a 0.1 percent increase in December.