Norway Inflation Rises To 4-Month High, Producer Prices Fall

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(RTTNews) - Norway's consumer price inflation rose less than expected in September to the highest level in four months, while producer prices fell for the first time in five months, separate reports from Statistics Norway showed on Thursday.

The consumer price index rose 3.0 percent year-over-year in September, faster than the 2.6 percent gain in August. Economists had expected inflation to rise to 3.2 percent.

The annual price growth for housing and utilities accelerated to 5.1 percent from 2.3 percent in August. Health costs were 4.6 percent more expensive compared to last year. Meanwhile, inflation based on food and non-alcoholic beverages eased to 4.0 percent from 4.5 percent.

On a monthly basis, consumer prices rose 0.3 percent in September after falling 0.9 percent in August.

Core inflation, which excludes energy prices and tax changes, moderated slightly to 3.1 percent in September from 3.2 percent in the previous month.

In a separate report, the statistical office said producer prices fell 2.9 percent annually in September, reversing a 3.6 rise a month ago.

Energy prices plunged 10.4 percent annually in September, and those for extraction and related services slid by 8.8 percent.

Monthly, producer prices dropped 1.9 percent versus a 1.9 percent increase in August.