Norway's annual inflation rate inched lower to 1.3 percent in July 2020 from 1.4 percent in the previous month. Prices increased at a softer pace for transport (2.5 percent vs 2.6 percent in June), food & non-alcoholic beverages (2.2 percent vs 3.0 percent). In addition, housing & utilities prices fell more (-4.4 percent vs -3.9 percent). Meanwhile, prices continued to rise for both furnishings, household equipment & routine maintenance (7.5 percent vs 7.1 percent) and recreation & culture (3.4 percent vs 3.3 percent). The CPI adjusted for tax changes and excluding energy products increased 3.5 percent in July, the most since July 2016. On a monthly basis, consumer prices rose 0.7 percent and the core index were up 0.9 percent.
Inflation Rate in Norway averaged 4.54 percent from 1950 until 2020, 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 August of 2020. source: Statistics Norway
Inflation Rate in Norway is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Norway to stand at 2.90 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 2.80 percent in 2021 and 2.00 percent in 2022, according to our econometric models.