Norway Inflation Accelerates For Second Month

Norway Inflation Accelerates For Second Month

Norway's consumer price inflation accelerated for the second straight month in July, figures from Statistics Norway showed Friday.

Consumer prices climbed 3.0 percent year-over-year in July, faster than the 2.6 percent rise in June. Meanwhile, economists had expected the inflation to remain stable at 2.6 percent.

Moreover, this was the highest inflation since December 2016, when prices had grown 3.5 percent.

Utility costs grew 6.4 percent annually in June and transport charges rose by 3.6 percent.

On a monthly basis, consumer prices increased 0.7 percent in July versus the expected rise of 0.3 percent.

Another report from the statistical office showed that producer price inflation quickened to 22.6 percent in July from 20.0 percent in June. Monthly, producer prices went up 1.1 percent.

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