Norway Inflation Eases To 2.7% In June

(RTTNews) - Norway's consumer price inflation eased unexpectedly to a four-month low in June, data from Statistics Norway showed Friday.

Consumer prices climbed 2.7 percent year-on-year in June, slower than the 3.1 percent increase in May. Meanwhile, the rate was expected to rise to 3.2 percent. Moreover, a similar inflation rate was last seen in February.

Core inflation, excluding tax changes and energy products, accelerated to a 4-month high of 3.4 percent from 3.2 percent in May.

The annual price growth in food and non-alcoholic beverages eased to 2.3 percent from 3.4 percent, and inflation based on transportation slowed to 1.7 percent from 2.6 percent. Health costs also grew at a slower pace of 3.8 percent versus 4.1 percent a month ago.

On the other hand, inflation based on housing and other utility costs climbed to 3.4 from 2.8 percent.

On a monthly basis, consumer prices dropped 0.2 percent, reversing a 0.2 percent gain in May.