Norway’s inflation reaches highest level since 2008

norges-bank2

Inflation in Norway rose sharply in December to reach its highest level since October 2008, according to official data released on January 10.

Headline CPI inflation rose from 5.1% to 5.3%. The figures were boosted by higher energy prices, which rose year on year by 15.9%.

The increase in the headline figure surprised most analysts. The consensus expected a slight decline. For instance, Capital Economics forecast inflation would fall to 4.5%.

Higher energy prices drove Norway’s parliament to

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