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.

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Norway Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.30 1.40 18.90 -1.80 1950 - 2020 percent Monthly
2015=100


Calendar GMT Actual Previous Consensus TEForecast
2020-05-11 06:00 AM Apr 0.8% 0.7% 0.4% 0.3%
2020-06-10 06:00 AM May 1.3% 0.8% 1.1% 1.1%
2020-07-10 06:00 AM Jun 1.4% 1.3% 1.4% 1.4%
2020-08-10 06:00 AM Jul 1.3% 1.4% 1.1%
2020-09-10 06:00 AM Aug 1.3% 1.7%
2020-10-09 06:00 AM Sep 1.8%
2020-11-10 07:00 AM Oct
2020-12-10 07:00 AM Nov


News Stream
Norway Inflation Rate Eases to 1.3% in July
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.
2020-08-10
Norway Inflation Rate at 5-Month High of 1.4%
Norway's annual inflation rate edged higher to 1.4 percent in June 2020 from 1.3 percent in the previous month, in line with market expectations. It was the highest inflation rate since January, as prices increased faster for transport (2.6 percent vs 1.8 percent in May), furnishings, household equipment & routine maintenance (7.1 percent vs 6.0 percent) and recreation & culture (3.3 percent vs 2.8 percent). In addition, housing & utilities deflation slowed (-3.9 percent vs -4.0 percent). Meanwhile, prices of food & non-alcoholic beverages continued to increase (3.0 percent vs 4.7 percent). The CPI adjusted for tax changes and excluding energy products increased 3.1 percent in June, the most since August 2016, also above market consensus of 3.0 percent. On a monthly basis, consumer prices rose 0.2 percent and the core index were up 0.4 percent.
2020-07-10
Norway Inflation Rate Rises to 4-Month High
Norway's annual inflation rate increased to 1.3 percent in May 2020 from 0.8 percent in the previous month, beating market expectations of 1.1 percent. It was the highest inflation rate since January, as prices rose at a faster pace for transport (1.8 percent vs 0.2 percent in April), food & non-alcoholic beverages (4.7 percent vs 4.4 percent), furnishings, household equipment & routine maintenance (6.0 percent vs 5.9 percent) and recreation & culture (2.8 percent vs 2.7 percent). In addition, housing & utilities deflation eased (-4.0 percent vs -4.3 percent). The CPI adjusted for tax changes and excluding energy products increased 3.0 percent in May, also above market consensus of 2.9 percent. On a monthly basis, consumer prices rose 0.2 percent and the core index edged up 0.1 percent.
2020-06-10
Norway Inflation Rate Above Forecasts in April
Norway's annual inflation rate inched higher to 0.8 percent in April 2020 from 0.7 percent in the previous month, beating market expectations of 0.4 percent. Prices rose at a faster pace for food & non-alcoholic beverages (4.4 percent vs 2.7 percent in March), furnishings, household equipment & routine maintenance (5.9 percent vs 3.4 percent) and recreation & culture (2.7 percent vs 2.2 percent). Meantime, transport inflation eased steeply (0.2 percent vs 1.4 percent), while housing & utilities deflation accelerated (-4.3 percent vs -3.4 percent). The CPI adjusted for tax changes and excluding energy products increased 2.8 percent in April, also above market consensus of 2.1 percent. On a monthly basis, consumer prices rose 0.4 percent and the core index went up 1.1 percent.
2020-05-11

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.