Norway Inflation Rises To 4-month High

(RTTNews) - Norway's consumer price inflation accelerated further in August to the highest level in four months, data from Statistics Norway showed on Thursday.

Consumer prices climbed 3.3 percent year-on-year in August, faster than the 3.0 percent increase in July.

Core inflation, excluding tax changes and energy products, rose to 3.0 percent from 2.7 percent.

The annual price growth in food and non-alcoholic beverages accelerated to 1.6 percent from 1.1 percent, and information and communication costs rose at a faster pace of 3.2 percent versus 1.4 percent a month ago.

Meanwhile, inflation based on housing and utilities eased to 3.9 percent from 4.6 percent, and transport inflation moderated slightly from 2.6 percent to 2.4 percent.

On a monthly basis, consumer prices dropped 0.3 percent, reversing a 1.0 percent increase in July.