Norway's annual inflation hits 7.5% in October, highest since 1987
Figure above market prediction of 7.1%
![Norway's annual inflation hits 7.5% in October, highest since 1987](https://cdnuploads.aa.com.tr/uploads/Contents/2022/11/10/thumbs_b_c_b21e35e1aeca277c19dd670b5425d71c.jpg?v=164123)
ANKARA
Norway’s annual inflation rate spiked to 7.5% in October, the highest since October 1987, according to figures released by Statistics Norway on Thursday.
The October figure was above the market projection of 7.1% from the 6.9% recorded in September.
The main driver of the inflation was the rises in prices of food and non-alcoholic beverages (13.1% in October vs 12.1% ) and housing, water, electricity, gas and other fuels (7.2% vs 5.8%).
Meanwhile, the consumer price index adjusted for tax changes and excluding energy products, rose 5.9% year-on-year in October.
On a monthly basis, consumer prices were up 3.3% from September to October.
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