Norway: Inflation picks up in December from November
Latest reading: Consumer prices were up 3.2% in annual terms in December, following a 3.0% increase in the prior month.
Relative to the previous month’s figures, there were higher price pressures for housing and utilities (+3.9% in annual terms vs +3.7% in November), transportation (+2.7% vs +2.2% in November), food and non-alcoholic beverages (+5.2% vs +4.7% in November) and clothing and footwear (-1.2% vs -1.5% in November).
Meanwhile, core consumer prices—Norges Bank’s preferred gauge of price pressures—rose 3.1% in annual terms in December, following a 3.0% rise in the prior month.
Finally, consumer prices were up 0.14% in December in month-on-month terms, stable from the prior month’s reading.