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Norway’s September consumer prices rise 3.4 per cent annually

Norway’s consumer prices rose 3.4 per cent from a year earlier in September, with a monthly increase of 0.5 per cent. The tax-adjusted measure excluding energy increased 3.0 per cent annually. Transport and services prices rose, while furnishings became cheaper. The figures describe household purchases across a range of goods and services.

Economics & Markets··Evening
Vegetables, apples and bread rest on a wooden shop counter, with timber buildings and a Norwegian flag beyond the doorway.

September’s annual price increase reaches 3.4 per cent

Norway’s consumer prices rose 3.4 per cent in September from the same month last year. Statistics Norway, the country’s national statistics agency, released the figures on 9 October. The index tracks goods and services purchased by private households.[1], [2]

The monthly increase from August was 0.5 per cent. The all-items index stood at 104.0, with last year’s average set at 100. The tax-adjusted index excluding energy products, known as CPI-ATE, rose 3.0 per cent annually and 0.2 per cent monthly. Adjusting only for tax changes gave annual growth of 5.2 per cent and monthly growth of 0.4 per cent.[1]

Transport rises while food prices edge down monthly

Transport prices increased 2.3 per cent over the month and 4.8 per cent annually. Food and non-alcoholic beverages fell 0.1 per cent monthly while rising 2.4 per cent from a year earlier. Food alone became 0.7 per cent cheaper over the month, while non-alcoholic beverages increased 4.0 per cent. Clothing and footwear rose 4.0 per cent monthly and 2.2 per cent annually.[1]

Services grow dearer as furnishings fall

Services prices rose 3.8 per cent annually, compared with 3.0 per cent for consumer goods. Insurance and financial services increased 7.9 per cent over the year, while restaurants and accommodation rose 6.0 per cent. Furnishings, household equipment and maintenance were 1.1 per cent cheaper annually and fell 2.3 per cent over the month. The overall index weights spending categories according to household expenditure.[1]

References

  1. News sourceStatistics NorwayNorway’s September inflation reaches 3.4% annually↩1↩2↩3↩4
  2. News sourceNorway’s News in EnglishNorway’s annual inflation reaches 3.4 per cent↩
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