Norway Inflation Rate Steady at 3% in June

Norway’s annual inflation rate eased to 3.4% in April 2026 from 3.6% in March. Price growth mainly slowed for housing, water, electricity, gas and other fuels (3.6% vs 4.9% in March) and transport (2.4% vs 4.2%). Inflation also moderated for furnishings and household equipment (0.3% vs 2.4%) and restaurants and accommodation services (5.8% vs 6.3%). Meanwhile, price growth accelerated sharply for food and non-alcoholic beverages (6.6% vs 1.6%), alongside alcoholic beverages and tobacco (3.5% vs 3.2%), clothing and footwear (1.5% vs 1.4%), and recreation and culture (4.0% vs 3.9%). Inflation was unchanged for education services at 2.4%, while prices for personal care and miscellaneous goods remained in deflation (-1.3% vs -1.2%). On a monthly basis, the CPI rose 0.4%, accelerating from a 0.2% gain in the previous period. Meanwhile, the CPI-ATE, which excludes energy and tax effects, grew 3.2% year-on-year, the highest growth in three months, picking up from the 3.0% increase in March.

Norway’s annual inflation rate accelerated to 3.6% in March 2026 from 2.7% in February, in line with expectations. The main upward pressure came from stronger price growth for housing, electricity and fuels (4.9% vs 2.2% in February) and transport (4.2% vs 3.2%), amid surging energy costs. Inflation also picked up for restaurants and accommodation services (6.3% vs 5.1%), furnishings and household equipment (2.4% vs 0.6%), and information and communication (2.5% vs 0.0%). Meanwhile, price growth eased for food and non-alcoholic beverages (1.6% vs 3.3%) and clothing and footwear (1.4% vs 1.8%), while remaining steady for recreation and culture (3.9%), education (2.4%), and financial services (8.5%). On a monthly basis, the CPI rose 0.2%, as expected, following a 0.6% gain in February. Meanwhile, the CPI-ATE, which excludes energy and tax effects, rose 3% year-on-year, unchanged from February.

The annual inflation rate in Norway sharply eased to 2.7% in February 2026, the lowest since late April, down from 3.6% in January. The main downward pressure came from slower price growth for food and non-alcoholic beverages (3.3% vs 4.2% in January), housing, water, electricity, gas and other fuels (2.2% vs 4.3%), and transport (3.2% vs 4.4%). Inflation also moderated for furnishings, household equipment and routine household maintenance (0.6% vs 1.7%), recreation, sport and culture (3.9% vs 4.3%), and restaurants and accommodation services (5.1% vs 5.8%). In contrast, inflation picked up for clothing and footwear (1.8% vs 0.7%), alcoholic beverages, tobacco and narcotics (3.0% vs 2.8%), and health (3.2% vs 2.7%). On a monthly basis, the CPI rose 0.6%, the same pace as in January, marking the largest increase since last July. Meanwhile, the CPI-ATE, which excludes energy and tax effects, rose 3% year-on-year, down from January’s 3.4% increase.