World News

Norway's Inflation Steady At 2.2%

Norway's Inflation Steady At 2.2%

Macedonia's consumer prices rose 1.6% year-on-year in March, after increasing by an annual 1.9% in the previous month, the state statistical office said on Monday.

As a result, compared to February 2018, in March 2018 the average level of consumer prices rose by 1.2 %.

The price of services was up by 1.1% and that of clothing and footwear by 0.3% on average.

Inflation slowed in March for the third consecutive month, according to the National Institute of Statistics and Geography (Inegi).

Underlying inflation in March 2018 slowed to 1.4% from 0.6% in February and from 0.7% in January, and in annual terms it slowed down to 9.4% from 9.6% in February and from 9.7% in January.

Inflation has increased in Egypt since the floatation of the Egyptian pound in November 2016, reaching a high record level in July due to energy subsidy cuts; inflation has gradually eased since July 2017.

More news: With Syria in focus, Trump cancels trip to Latin America

Inegi said that consumer prices were 5.04% higher last month compared to those of March 2017.

In the first quarter, consumer prices advanced 2.1% over the same period of past year.

Today's softer-than-expected inflation data are consistent with assessment that cooling price pressures will open the door to further monetary easing in the coming quarters, Julian Evans-Pritchard, an economist at Capital Economics, said.

The decrease in prices for transport in general by 0.7% was mainly caused by cheapening of fuel and oils by 2.5%, cars by 1.9%.

The Egyptian government expected inflation to decline by the end of this fiscal year (FY) from 17 percent to 13 percent, according to Minister of Finance Amr el-Garhy. At the same time, rail and road transport fares increased by 3.3% and 1.4%, respectively.


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