Norway's annual inflation rate increased to 5.4 percent in April 2022 from 4.5 percent in March and above market estimates of 4.7 percent. It was the highest inflation rate since October of 2008, as prices accelerated for transport (8.3 percent vs7.9 percent in March) and housing and utilities (10.1 percent vs 7.9 percent), and food and non-alcoholic beverages (1.7 percent vs 0 percent). Also, prices continued to rise for clothing and footwear (3.1 percent vs 0.6 percent), health (2 percent vs 1.7 percent), restaurants and hotels (6.8 percent vs 6.2 percent) and miscellaneous goods and services (2.2 percent vs 1.9 percent). The CPI adjusted for tax changes and excluding energy products, rose to a 13-month high of 2.6 percent, accelerating from 2.1 percent in March and above expectations of 2.4 percent. source: Statistics Norway
Inflation Rate in Norway averaged 4.50 percent from 1950 until 2022, 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 May of 2022.
Inflation Rate in Norway is expected to be 5.20 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 1.70 percent in 2023, according to our econometric models.