Norway's annual inflation rose to a near two-year high of 3.5 percent in November from 3.1 percent in October and above market consensus of 3.1 percent. Prices rose at a faster pace for: food & non-alcoholic beverages (4.3 percent vs 2.3 percent in October); transport (4.8 percent vs 3.7 percent); furnishings, household equipment & routine maintenance (2.6 percent vs 2.1 percent); and miscellaneous goods & services (1.4 percent vs 1.0 percent). Meantime, inflation eased for both housing & utilities (5.3 percent vs 5.7 percent), recreation & culture (3 percent vs 3.4 percent) and restaurants & hotels (3 percent vs 3.4 percent). Annual core inflation rate, which is adjusted for tax changes and excludes energy products, increased to 2.2 percent in November, beating market consensus of 1.8 percent and staying above the central bank's 2 percent target for the first time since January 2017. On a monthly basis, consumer prices went up 0.5 percent and the core index rose 0.3 percent. Inflation Rate in Norway averaged 4.60 percent from 1950 until 2018, 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.

Inflation Rate in Norway is expected to be 2.90 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 1.80 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.

Norway Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-10 06:00 AM Inflation Rate YoY 3.4% 3% 3.2% 2.7%
2018-10-10 06:00 AM Inflation Rate YoY 3.4% 3.4% 3.2% 3.2%
2018-11-09 07:00 AM Inflation Rate YoY 3.1% 3.4% 3.4% 3.6%
2018-12-10 07:00 AM Inflation Rate YoY 3.5% 3.1% 3.1% 3.3%
2019-01-10 07:00 AM Inflation Rate YoY 3.5% 2.90%
2019-02-11 07:00 AM Inflation Rate YoY
2019-03-11 07:00 AM Inflation Rate YoY


Norway Prices Last Previous Highest Lowest Unit
Inflation Rate 3.50 3.10 18.90 -1.80 percent [+]
Harmonised Consumer Prices 110.70 110.10 110.70 69.20 Index Points [+]
Consumer Price Index CPI 109.80 109.30 109.80 5.09 Index Points [+]
Core Consumer Prices 107.20 106.90 107.20 82.30 Index Points [+]
Core Inflation Rate 2.20 1.60 3.70 -0.10 percent [+]
GDP Deflator 111.71 109.45 111.71 19.86 Index Points [+]
Producer Prices 269.80 278.60 278.60 37.56 Index Points [+]
Producer Prices Change 14.90 22.50 33.90 -18.60 percent [+]
Export Prices 155.10 154.90 155.10 57.64 Index Points [+]
Import Prices 143.30 142.90 143.30 71.76 Index Points [+]
Food Inflation 4.30 2.30 19.90 -7.10 percent [+]
Inflation Rate Mom 0.50 -0.20 5.45 -1.72 percent [+]
CPI Housing Utilities 114.80 113.80 114.80 19.50 Index Points [+]
CPI Transportation 109.80 109.50 111.40 21.00 Index Points [+]


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. This page provides - Norway Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Inflation Rate - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.10 18.90 -1.80 1950 - 2018 percent Monthly
2015=100




Country Last Previous
Argentina 48.00 Nov/18
Australia 1.90 Sep/18
Brazil 4.05 Nov/18
Canada 2.40 Oct/18
China 2.20 Nov/18
Euro Area 1.90 Nov/18
France 1.90 Nov/18
Germany 2.30 Nov/18
India 2.33 Nov/18
Indonesia 3.23 Nov/18
Italy 1.60 Nov/18
Japan 1.40 Oct/18
Mexico 4.72 Nov/18
Netherlands 2.00 Nov/18
Russia 3.80 Nov/18
Saudi Arabia 2.40 Oct/18
Singapore 0.70 Oct/18
South Africa 5.20 Nov/18
South Korea 2.00 Nov/18
Spain 1.70 Nov/18
Switzerland 0.90 Nov/18
Turkey 21.62 Nov/18
United Kingdom 2.30 Nov/18
United States 2.20 Nov/18


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