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Norway Inflation At 4-Month High

Norway's consumer price inflation rose to the highest in four months in May, data from Statistics Norway showed on Wednesday.

The consumer price index rose 1.3 percent year-on-year in May, following a 0.8 percent increase in April. Economists had expected a rise of 1.1 percent.

The latest inflation was the highest since January, when it was 1.8 percent.

The core inflation rose to 3.0 percent in May from 2.8 percent in the preceding month. Economists had expected a 2.9 percent rise.

On a month-on-month basis, consumer prices rose 0.2 percent in May, following a 0.4 percent increase in the prior month. Economists had expected a 0.1 percent rise.

The core CPI rose 0.1 percent monthly in May, after a 0.2 percent fall in the preceding month.

Separate data from the statistical office showed that the producer price index declined 17.5 percent annually in May, following a 16.1 percent decrease in April. Prices declined for the twelfth straight month.

On a monthly basis, producer prices fell 2.7 percent in May, following a 3.3 percent decrease in the preceding month.

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