Norway's annual core inflation rate, which is adjusted for tax changes and excludes energy products, edged down to 2.1 percent in December 2018 from 2.2 percent in the previous month, still beating market consensus of 2 percent and staying above the central bank's 2 percent target for second straight month. Core Inflation Rate in Norway averaged 1.67 percent from 2003 until 2018, reaching an all time high of 3.70 percent in July of 2016 and a record low of -0.10 percent in February of 2004.
Core Inflation Rate in Norway is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Core Inflation Rate in Norway to stand at 1.70 in 12 months time. In the long-term, the Norway Core Inflation Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.