Norway: Inflation eases in April from the prior month
Latest reading: Consumer prices increased 3.4% in annual terms in April, following a 3.6% increase in the prior month.
Relative to the prior month’s data, there were reduced price pressures for housing and utilities (+3.6% in annual terms vs +4.9% in March) and transportation (+2.4% vs +4.2% in March). In contrast, there were more notable price pressures for food and non-alcoholic beverages (+6.6% vs +1.6% in March) and clothing and footwear (+1.5% vs +1.4% in March).
Meanwhile, core consumer prices—Norges Bank’s preferred gauge of price pressures—rose 3.2% in annual terms in April, following a 3.0% rise in the prior month.
Finally, consumer prices rose 0.39% in April on a month-on-month basis, following a 0.20% rise in the prior month.