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Norway Inflation Eases In April

Norway's consumer price inflation slowed in April, data from Statistics Norway showed on Monday.

The consumer price index rose 3.0 percent year-on-year in April, after a 3.0 percent increase in March. This was in line with economists expectation.

Prices for furnishing, household equipment and routine maintenance grew 6.8 percent yearly in April. Prices for furnishings, household equipment and routine maintenance, and recreation and culture gained 5.6 percent and 3.8 percent, respectively.

Prices for health rose 3.3 percent and those of miscellaneous goods and services increased by 3.1 percent. Prices for communication and education gained by 1.7 percent and 2.1 percent, respectively.

The core inflation rate rose 2.0 percent in April, after a 2.7 percent increase in March. Economists had expected a 2.1 percent rise.

On a month-on-month basis, consumer prices rose 0.3 percent in April, reversing a 0.3 percent decline in the prior month.

The core CPI rose 0.4 percent monthly in April, after a 1.1 percent gain in the preceding month.

The EU measure of harmonized index of consumer prices, or HICP, rose 3.2 percent yearly in April, after a 3.4 percent increase in the prior month.

On a monthly basis, the HICP rose 0.3 percent in April, after a 0.3 percent increase in the preceding month.

Separate data from the statistical office showed that the producer price index accelerated 22.5 percent annually in April, following a 18.4 percent increase in March.

On a monthly basis, producer prices rose 0.1 percent in April, after a 0.2 percent decrease in the preceding month.

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