Norway's inflation rate for consumer prices continued to decline in December, reaching its lowest point in four years, as reported by Statistics Norway on Friday. The Consumer Price Index showed a year-over-year increase of 2.2 percent in December, down from the 2.4 percent observed in October. This rate marks the weakest inflation since December 2020, when the increase was 1.4 percent.
In terms of specific sectors, the annual growth rate for housing and utilities prices decreased to 1.9 percent, down from 2.1 percent in November. Similarly, the growth in prices for food and non-alcoholic beverages slowed to 4.0 percent, compared to 4.2 percent the previous month.
Core inflation, which filters out energy prices and tax changes, also decreased to 2.7 percent in December from 3.0 percent in November. On a month-to-month basis, consumer prices slipped by 0.1 percent in December, following a 0.3 percent increase in November.
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