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Norway Inflation At 7-Month Low

Norway's consumer price inflation slowed, though marginally, to the lowest level in seven months in February, figures from Statistics Norway showed on Monday.

The consumer price index rose 3.0 percent year-over-year in February following a 3.1 percent rise in January. Economists had expected a 2.6 percent rise in inflation.

The inflation recorded at the same rate of 3.0 percent in July 2018.

On a month-on-month basis, consumer prices rose 0.8 percent in February, more than the expected 0.5 percent rise.

The Core CPI rose 2.6 percent year-on-year in February after a 2.1 percent climb in the previous year. Economists had expected a 2.1 percent gain.

Separate data from Statistics Norway showed that the producer price index rose 8.0 percent annually in February following a 4.9 percent rise in January.

On a month-on-month basis, producer prices rose marginally by 0.4 percent after a 0.3 percent rise in January.

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