Norway October Core Inflation Rises 0.3 Percent

Statistics Norway reported that core inflation rose 0.3 percent on a monthly basis in October, a rate lower than the 0.4 percent forecast by economists. This measure, which excludes energy products and tax changes, follows a 0.2 percent increase recorded in September.

Headline consumer prices increased 3.6 percent year-over-year, slightly below the expected 3.7 percent and up from 3.4 percent in September. Services prices grew 4.1 percent annually, outperforming goods prices, which rose 2.8 percent.

The largest annual increases occurred in insurance and financial services at 6.4 percent, followed by catering and accommodation at 6.1 percent. In contrast, information and communication prices fell 0.6 percent from a year earlier, and furniture and household items declined 1.4 percent annually.