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Norway Inflation At 1-1/2-Year Low

Norway's consumer price inflation slowed to the lowest level in one-and-a-half years in June, figures from Statistics Norway showed on Wednesday.

The consumer price index climbed 1.9 percent year-on-year in June, following a 2.5 percent increase in May. Economists had expected a 2.1 percent rise.

The latest inflation was the slowest since January last year, when it was 1.6 percent.

Prices for education grew by 4.8 percent annually in June and those of transportation and, recreation and culture rose by 3.2 percent and 3.1 percent, respectively.

On a monthly basis, consumer prices rose 0.1 percent in June, after a 0.3 percent fall in the preceding month. Economists had expected a 0.2 percent rise.

The core CPI rose 0.4 percent monthly in June. Economists had expected a 0.2 percent rise.

The core inflation was 2.3 percent annually in June. Economists had expected a 2.4 percent rise.

Separate data from the Statistics Norway showed that the producer price inflation declined 6.5 percent yearly in June after a 0.4 percent rise in May.

On a month-on-month basis, producer prices fell 4.9 percent in June, following a 1.0 percent decrease in the previous month.

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