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.

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Norway Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.40 3.00 18.90 -1.80 1950 - 2021 percent Monthly
2015=100


Calendar GMT Actual Previous Consensus TEForecast
2021-06-10 06:00 AM May 2.7% 3% 2.9% 3.1%
2021-07-09 06:00 AM Jun 2.9% 2.7% 2.9% 2.8%
2021-08-10 06:00 AM Jul 3% 2.9% 2.9% 2.8%
2021-09-10 06:00 AM Aug 3.4% 3% 3.1% 3.3%
2021-10-11 06:00 AM Sep 3.4% 3.3%
2021-11-10 07:00 AM Oct
2021-12-10 07:00 AM Nov
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Norway Inflation Rate at Over 2-/12 Year High of 3.4%
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.
2021-09-10
Norway Inflation Rate at 3-Month High of 3%
The annual inflation rate in Norway inched up to 3.0 percent in July of 2021 from 2.9 percent in the previous month, and beating market consensus of a 2.9 percent rise, pointing to the highest inflation rate since April, due to a faster rise in prices of housing and utilities (10.3 percent vs 8.6 percent). Meanwhile, prices continued to increase for both furnishing household equipment and routine maintenance (3.3 vs 3.6 percent in June) and recreation and culture (3.2 percent vs 3.5 percent), while prices of transport were unchanged (vs 0.3 percent in June). On the other hand, prices fell further for food and beverages (-2.8 percent vs -1.7 percent), clothing (-1.2 percent vs -2.9 percent) and alcoholic beverages and tobacco (-2.3 percent vs -1.9 percent). On a monthly basis, consumer prices rose 0.9 percent, accelerating from a 0.3 percent gain in June and above market consensus of a 0.8 percent rise.
2021-08-10
Norway Inflation Rate Accelerates to 2.9% in June
The annual inflation rate in Norway increased to 2.9 percent in June of 2021 from 2.7 percent in the previous month, and matching market consensus, due mainly to a faster rise in prices of housing and utilities (8.6 percent vs 7.6 percent). Also, prices increased more for both furnishing household equipment and routine maintenance (3.6 vs 2.8 percent in May) and recreation and culture (3.5 percent vs 2.8 percent). Meanwhile, prices of transports continued to rise (0.3 percent vs 1.5 percent). In addition, prices of food and beverages fell less (-1.7 percent vs -2.0 percent). On the other hand, prices dropped further for both clothing (-2.9 percent vs -1.7 percent) and alcoholic beverages and tobacco (-1.9 percent vs -2.0 percent). On a monthly basis, consumer prices were up 0.3 percent, rebounding from a 0.1 percent fall in May but below market consensus of a 0.4 percent rise.
2021-07-09
Norway Inflation Rate at 4-Month Low of 2.7%
The annual inflation rate in Norway went down to 2.7 percent in May of 2021 from 3.0 percent in the previous month, and below market consensus of 2.9 percent. It was the lowest inflation rate since January, as prices increased softer for transports (1.5 percent vs 2.4 percent in April), furnishing household equipment and routine maintenance (2.8 vs 5.6 percent) and recreation and culture (2.8 percent vs 3.8 percent). Meanwhile, prices continued to increase for housing and utilities (7.6 percent vs 6.8 percent). On the other hand, prices fell further for food and beverages (-2.0 percent vs -2.1 percent), clothing (-1.7 percent vs -2.5 percent) and alcoholic beverages and tobacco (-2.0 percent vs -1.4 percent). On a monthly basis, consumer prices inched down 0.1 percent, reversing from a 0.3 percent increase in April.
2021-06-10

Norway Inflation Rate
In Norway, the most important category in the consumer price index is Housing and Utilities (23 percent of total weight). Transport accounts for 16 percent; Food and Non-Alcoholic Beverages for 13 percent; Recreation and Culture for 12 percent; Miscellaneous Goods and Services for 9 percent and Furniture, Household Goods and Maintenance for 7 percent. Restaurants and Hotels; Clothing and Footwear; Alcoholic beverages and Tobacco; Health; Communication and Education account for the remaining 21 percent of total weight.