Norway's annual inflation remained unchanged from the previous month in June, but came in below economists' forecast, data released by Statistics Norway showed Tuesday.
Consumer price inflation remained steady at 0.5 percent in June, while economists were looking for an inflation rate of 0.8 percent.
Sequentially, the consumer price index dropped 0.5 percent in June, after falling 0.4 percent in May. Economists expected prices to drop 0.1 percent month-on-month.
Core consumer prices rose 1.2 percent annually during the month, slower than the 1.6 percent gain economists forecast. Compared to May, core prices dropped 0.3 percent in June, defying economists' expectations for a 0.1 percent rise.
At the same time, the harmonized index of consumer prices (HICP), measured under the EU methodology, remained flat year-on-year in June, after rising 0.2 percent in may. Month-on-month, the HICP dropped 0.6 percent.
Separately, the agency said Norway's producer price index, including oil products, decreased 0.2 percent annually in June, reversing the previous month's 2.5 percent increase. Compared to May, output prices decreased 3.5 percent.
by RTT Staff Writer
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