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Norwegian Consumer Price Inflation Slows; Producer Prices Rise

Norway’s consumer price inflation eased in October, data from Statistics Norway showed on Wednesday.

The consumer price index rose 3.5 percent year-on-year in October, after a 4.1 percent increase in September. Economists had expected the inflation to rise 3.9 percent.

Prices for housing, water, electricity, gas and other fuels increased 12.1 percent yearly in October. Prices for restaurants and hotels, and recreation and culture gained by 4.4 percent and 2.5 percent, respectively.

Prices for health, and miscellaneous good and services rose by 2.6 percent and 2.3 percent, respectively.

The core inflation rate eased to 0.9 percent in October from 1.2 percent in September. Economists had forecast a rise of 1.2 percent.

On a month-on-month basis, consumer prices declined 0.3 percent in October, after a 1.0 percent rise in the prior month. Economists had forecast a 0.1 percent increase.

The core CPI decreased 0.3 percent monthly in October, after a 0.1 percent gain in the preceding month. Economists had expected a rise of 0.1 percent.

The EU measure of harmonized index of consumer prices, or HICP, rose 4.0 percent yearly in October, after a 4.8 percent increase in the prior month.

On a monthly basis, the HICP declined 0.4 percent in October, after 1.3 percent rise in the preceding month.

Separate data from the statistical office showed that the producer price index accelerated 60.8 percent annually in October, following a 57.8 percent increase in September.

On a monthly basis, producer prices rose 6.2 percent in October, after a 8.0 percent gain in the preceding month.

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Finnish Industrial Production Growth Slows In September

Finland’s industrial production rose at a softer pace in September, data from Statistics Finland showed on Wednesday.

Industrial production rose 0.5 percent month-on-month in September, after a 1.3 percent rise in August.

Manufacturing output increased 0.7 percent monthly in September and production of mining and quarrying grew 19.6 percent.

Among industries, production electrical and electronic industry declined 6.9 percent and metal industry fell 1.3 percent. Production of electricity, gas, steam and air conditioning supply, and food industry decreased by 0.6 percent and 1.1 percent, respectively.

On a yearly basis, industrial output increased a working-day adjusted 6.6 percent in September, following a 4.3 percent rise in the prior month.

Separate data from the statistical office showed that the industrial orders grew 37.9 percent yearly in September, after a 45.3 percent rise in August.

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Dutch Industrial Production Rises In September

Dutch industrial production increased for the seventh consecutive month in September, figures from the Central Bureau of Statistics showed on Wednesday.

Industrial production grew 10.9 percent year-on-year in September, after a 9.4 percent rise in August. Output increased for the seventh month in a row.

Nearly three quarters of all business classes in industry produced more in September. Production in the machine industry grew the most, by 61.0 percent.

On a seasonally and working-day adjusted basis, industrial production rose 1.0 percent in September.

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European Economics Preview: Germany Final Inflation Data Due

Final consumer price data from Germany is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany’s final consumer prices for October. Economists expect consumer price inflation to rise to 4.5 percent, as initially estimated, from 4.1 percent in September.

In the meantime, Statistics Norway releases consumer and producer prices for October. Inflation is seen easing to 3.9 percent from 4.1 percent in September.

At 3.00 am ET, consumer prices from the Czech Republic and industrial production from Austria are due. The Czech inflation is expected to rise to 5.5 percent in October from 4.9 percent in September.

At 4.00 am ET, Italy’s Istat releases industrial output data for September. Economists forecast production to fall 0.1 percent on month, following August’s 0.2 percent decrease.