Norway Inflation Eases In October

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(RTTNews) - Norway's consumer price inflation eased to a three-month low in October but core inflation rose to a seven-month high, Statistics Norway reported Monday.

The consumer price index rose 3.3 percent in October from a year ago, the weakest since July and slower than the 3.6 percent increase in September.

However, core inflation accelerated to 3.4 percent from 3.0 percent in September. A similar higher rate was last seen in March.

On a monthly basis, consumer prices gained 0.3 percent.

Another data showed producer prices decreased for the sixth straight month in October. Producer prices fell 6.9 percent on a yearly basis, bigger than the 2.8 percent decline in September. This was the sharpest fall since March 2024.

Producer prices edged up 0.1 percent month-on-month, in contrast to the 1.7 percent decline in September.

Last week, Norges Bank left its key interest rate unchanged at 4.0 percent after lowering it by a quarter-point in September. The governor said if the economy evolves broadly as currently envisaged, the policy rate will be reduced further in the course of the coming year.