Inflation amounted to 1.5 percent in October, according to the CPIF measure where interest rate effects are excluded. It is 0.4 percent higher than the previous month, when the same measure was 1.1 percent. It shows Statistics Sweden’s figureswhich was published on Thursday.
It is fully in line with the preliminary calculations – a new indicator of inflation, called “quick CPI” – released by the authority on 7 November.
On an annual basis, fuel prices have fallen by 22 percent and telecommunications equipment by 15.5 percent.
But other things pull in the opposite direction – including food and housing costs. Food has become 1.7 percent more expensive. One product that has jumped in price in the last year is milk. The product group that rose the most in price in October was oils and fats. The price of butter, for example, has risen by just over 8 percent.
Rents and condominium fees have increased by 5.4 percent. And although interest costs have fallen recently, they are still 3.7 percent higher, according to Statistics Norway.
Price increases for television, film and music services also contributed to the monthly change. Going to a restaurant has become, on average, 4.4 percent more expensive in one year.
The rate of inflation according to the CPI was 1.6 percent in October, which it was also in September.
– This can largely be explained by the fact that lower interest costs were counteracted by rising energy prices, says Caroline Neander, price statistician at Statistics Norway, in a press release.