Norway Inflation Accelerates More Than Forecast

Norway Inflation Accelerates More Than Forecast

Norway's consumer price inflation accelerated at a faster-than-expected pace in June, figures from Statistics Norway showed Tuesday.

Consumer prices climbed 2.6 percent year-over-year in June, faster than the 2.3 percent rise in May. The inflation was expected to increase marginally to 2.4 percent.

Meanwhile, core inflation edged down to 1.1 percent in June from 1.2 percent. That was in line with economists' forecast.

Utility costs grew 5.6 percent annually in June and transport charges rose by 3.4 percent. Meanwhile, clothing and footwear prices dropped 3.8 percent.

On a monthly basis, consumer prices increased 0.6 percent in June.

Another report from the statistical office showed that producer price inflation quickened to 20.0 percent in June from 14.5 percent in May. Monthly, producer prices went up 2.2 percent.

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