More costly food and furniture raised the consumer price index

Coop PrixCoop Prix.Photo: Norway Today Media

The Consumer Price Index (CPI) rose by 0.4% between January and February this year, mainly due to the higher prices of furniture and foodstuffs.

The prices of furniture, and home decoration materials rose by 9.5%, and was due to a rise in tendering activity in January, according to Statistics Norway (SSB).

After a continuous decline since August, 2016, food prices increased by 1.6% in the first two months of this year.

The rise in the CPI was partly mitigated by a decrease in air travel by 9.4%.

Underlying inflation (CPI-ATE), an important factor for the fixing process at Norges Bank, stood at 1.6% over the course of the past twelve months.

 

Source: NTB scanpix / Norway Today

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