2022.04.1108:10:00UTC+00Norway Consumer Price Inflation At 3-Month High

Norway's consumer prices rose to the highest level in three months in March and producer prices increased for the fifteenth month in a row, data from Statistics Norway showed on Monday.

Consumer prices rose 4.5 percent yearly in March, following a 3.7 percent increase in February.

Economists had expected a rate of 5.0 percent. This was the highest since December last year, when prices grew 5.3 percent.

Prices for housing, water, electricity, gas and other fuels, and transport costs gained 7.9 percent, each, annually in March.

Prices for restaurant and hotels increased 6.2 percent and those of furnishings, household equipment and routine maintenance rose by 3.6 percent.

Prices for recreation and culture, and education rose by 2.5 percent and 2.0 percent, respectively.

On a monthly basis, consumer prices increased 0.6 percent in March, after a 1.1 percent growth in the prior month.

The EU measure of harmonized index of consumer prices rose 4.7 percent yearly in March, following a 3.5 percent increase in the previous month.

On a month-on-month basis, the HICP rose 0.8 percent in March, after a 1.2 percent gain in the prior month.

Producer prices grew 79.4 percent yearly in March, following a 53.2 percent rise in February. Prices increased for the fifteenth straight month.

On a monthly basis, prices rose 16.9 percent in March, following a 2.1 percent increase in the preceding month.