Norway Inflation At 20-Month High
(RTTNews) - Norway's consumer price inflation accelerated further in August to the highest level in more than one-and-a-half years, figures from Statistics Norway showed Monday.
Consumer prices climbed 3.4 percent year-over-year in August, faster than the 3.0 percent rise in July.
Moreover, this was the highest inflation since December 2016, when prices had grown 3.5 percent.
Utility costs grew 6.5 percent annually in August and transport charges rose by 3.8 percent.
On a monthly basis, consumer prices decreased 0.4 percent from July, when it increased by 0.7 percent.
Another report from the statistical office showed that producer price inflation accelerated slightly to 22.8 percent in August from 22.6 percent in July. Monthly, producer prices rose 0.6 percent.SEE ALSO: The loonie is climbing after the Bank of Canada raised its benchmark rate to 1.5% ÃÂ» READ NOW: Snap's stock falls in pre-market as its chief strategy officer quits 'to pursue other opportunities' ÃÂ» SUBSCRIBE NOW:
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