empty

2023.12.1108:32:00UTC+00Norway Core Inflation Slows In November

Norway's core inflation softened in November, while consumer price inflation accelerated to a three-month high, Statistics Norway reported Monday.

Core inflation eased to 5.8 percent, while the rate was expected to remain unchanged at 6.0 percent.

By contrast, the consumer price index posted an annual growth of 4.8 percent, faster than October's 4.0 percent increase. A similar high rate was last seen in August. The rate was forecast to rise to 4.9 percent.

Month-on-month, overall inflation halved to 0.5 percent from 1.0 percent in October. Inflation was also below economists' forecast of 0.7 percent. Meanwhile, core consumer prices were down 0.2 percent.

As today's inflation data broadly matched Norges Bank's forecast in September, Capital Economics' Bradley Saunders said the central bank is set to push ahead with one final quarter point rate hike on December 14, taking the policy rate to a 15-year high.

Another data from Statistics Norway showed that producer prices continued to decline in November. Producer prices slid 15.6 percent annually after a 10.9 percent drop a month ago. Prices have been falling since January 2023.

On a monthly basis, producer prices fell 0.3 percent, in contrast to October's 5.2 percent increase.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST


Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.