Inflation is rising in Norway as the economy strengthens and oil prices have hit a three-year high, prompting Norges Bank to bring forward its first planned rate hike to late 2018.
Headline inflation rose year-on-year by 1.6% in December, above the 1.4% forecast by the central bank. But it is still well below the 2.5% target. Volatile factors boosted the increase, according to Statistics Norway. Food sales over Christmas were lower in 2017, which boosted overall year-on-year price rises by 0.2