Norway Consumer Prices; Producer Prices Increase

Norway's consumer price inflation increased in September, data from Statistics Norway showed on Monday.

The consumer price index rose 4.1 percent year-on-year in September, following a 3.4 percent increase in August. Economists had expected the inflation to rise 4.0 percent.

Prices for housing, water, electricity, gas and other fuels increased 14.5 percent yearly in September. Prices for restaurants and hotels, and recreation and culture gained by 4.0 percent and 2.3 percent, respectively.

Prices for health, and miscellaneous good and services rose by 3.0 percent and 2.9 percent, respectively.

The core inflation rate rose to 1.2 percent in September from 1.0 percent in August. Economists had forecast a rise of 1.3 percent.

On a month-on-month basis, consumer prices rose 1.0 percent in September, after remaining unchanged in the prior month. Economists had forecast a 0.3 percent decrease.

The core CPI rose 0.4 percent monthly in September, following a 0.2 percent gain in the preceding month. Economists had expected a fall of 0.5 percent.

The EU measure of harmonized index of consumer prices, or HICP, rose 4.8 percent yearly in September, following a 3.8 percent increase in the prior month.

On a monthly basis, the HICP rose 1.3 percent in September, after remaining unchanged in the preceding month.

Separate data from the statistical office showed that the producer price index accelerated 57.8 percent annually in September, following a 50.1 percent increase in August.

On a monthly basis, producer prices rose 8.0 percent in September, following a 5.9 percent gain in the preceding month.

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