10.05.202209:50:00UTC+00Norway Consumer Price Inflation Increases In April

Norway's consumer price inflation increased sharply in April, while producer price inflation eased, but remained strong, data from Statistics Norway showed on Tuesday.

Consumer prices rose 5.4 percent yearly in April, following a 4.5 percent increase in March. Economists had expected a rate of 4.7 percent. Inflation accelerated for a third month in a row.

Prices for housing, water, electricity, gas and other fuels gained 10.1 percent annually in April and transport costs grew 8.3 percent.

Prices for restaurant and hotels increased 6.8 percent and those of furnishings, household equipment and routine maintenance rose by 2.9 percent.

Prices for alcoholic beverages and tobacco, and recreation and culture rose by 2.7 percent and 2.1 percent, respectively.

On a monthly basis, consumer prices increased 1.2 percent in April, following a 0.6 percent rise in the prior month.

The EU measure of harmonized index of consumer prices rose 5.9 percent yearly in April, following a 4.7 percent increase in the previous month.

On a month-on-month basis, the HICP rose 1.5 percent in April, following a 0.8 percent gain in the prior month.

Producer prices grew 66.4 percent yearly in April, after a 79.4 percent rise in March.

On a monthly basis, prices declined 7.2 percent in April, after a 16.9 percent increase in the preceding month.