The annual inflation rate in Norway increased to 3.4 percent in August of 2021 from 3.0 percent in the previous month, and beating market consensus of a 3.1 percent rise, pointing to the highest inflation rate since December 2018, due to a faster rise in prices of housing and utilities (12.2 percent vs 10.3 percent), while transport prices rose by 1.4 percent, after a flat reading in July. Meanwhile, prices continued to increase for both furnishing household equipment and routine maintenance (0.3 vs 3.3 percent in July) and recreation and culture (3.0 percent vs 3.2 percent). On the other hand, prices fell further for food and beverages (-2.9 percent vs -2.8 percent), clothing (-1.4 percent vs -1.2 percent) and alcoholic beverages and tobacco (-2.2 percent vs -2.3 percent). On a monthly basis, consumer prices were unchanged, after increasing by 0.9 percent in July, and compared with market consensus of a 0.3 percent fall. source: Statistics Norway
Inflation Rate in Norway averaged 4.51 percent from 1950 until 2021, reaching an all time high of 18.90 percent in June of 1951 and a record low of -1.80 percent in January of 2004. This page provides - Norway Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.
Inflation Rate in Norway is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Inflation Rate is projected to trend around 1.90 percent in 2022 and 1.70 percent in 2023, according to our econometric models.