Norway’s CPI inflation slows to 2.6% in October

Norway’s annual consumer price inflation has slowed to 2.6% in October from 3% in September, the latest data by Statistics Norway showed.

Last month, price increase slowed for:

– housing and utilities (4.5% YoY from 5.1% YoY in September);
– furnishings, household equipment and routine maintenance (1.2% YoY from 2.3% YoY in September);
– healthcare (4.2% YoY from 4.6% YoY in September);
– recreation and culture (3.5% YoY from 4.5% YoY in September);
– food and non-alcoholic beverages (3.9% YoY from 4% YoY in September);
– restaurants and hotels (2.8% YoY from 2.9% YoY in September).

Annual inflation adjusted for tax changes and excluding energy products (CPI-ATE) was reported at 2.7% in October, while easing from 3.1% in September.

It has been the lowest rate since April 2022.

The Norwegian Krone was little changed on the day against the Euro, with the EUR/NOK currency pair trading at 11.7654.