SG: Eco Analysis - Norway CPI: Up by 1.4% in October (A. Annenkov)

2011.11.10 04:44 AM
Eco Analysis - Norway CPI: Up by 1.4% in October (A. Annenkov)

Headline CPI in Norway rose by 1.4% yoy in October, down from 1.6% in September, in line with market expectations. Core inflation remained unchanged at 1.2% yoy, also in line with expectations. Prices of air fares, electricity and food & non-alcoholic beverages were the main contributors to the deceleration in inflation, while clothing & footwear and alcoholic beverages & tobacco contributed positively. Electricity prices fell less than expected and could imply a downside risk in the coming months.