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Norway Inflation Remain Steady In December

Norway's consumer price inflation remained steady in December, survey data from Statistics Norway showed on Thursday.

Consumer prices climbed 3.5 percent year-on-year in December, the same rate of increase as seen in November. The economists' expectation was a rise of 3.4 percent.

However, core inflation eased to 2.1 percent from 2.2 percent. The economists' expectation was a rise of 2.0 percent.

Among components of the consumer price index, the cost of education showed the biggest annual growth of 6.5 percent followed by a 5.9 percent rise in the prices of housing, water, electricity, gas and other fuels. Meanwhile, clothing and footwear prices fell 1.7 percent.

On a monthly basis, the consumer prices was unchanged following a 0.5 percent rise in November. The core CPI remained unchanged after a 0.3 percent increase in November.

Economists had expected both the CPI and the core index to fall 0.1 percent each.

Another report from the statistical office showed that producer price inflation slowed to 7.8 percent in December from 14.9 percent in November.

Month-on-month, producer prices fell 3.5 percent after a 3.2 percent drop in the previous month.

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