Norway Producer Inflation Highest Since 2022

Producer prices in Norway climbed by 22.7% year-on-year in April 2026, accelerating from a 16.9% surge in the previous month. This marked the second consecutive month of increase and the sharpest since September 2022, driven largely by significantly higher prices for electricity, gas and steam (46.5% vs 46% in March), energy goods (39% vs 26.6%), and extraction of oil and natural gas (35.5% vs 25.3%). Producer inflation also went up for manufacturing, rising 7.4% from 1.5% in March, particularly for refined petroleum products (42.3% and basic metals (10.4%). Excluding energy goods, producer prices rose by 4.5%, following a 3.7% gain in March. On a monthly basis, producer prices fell by 0.5% in April, reversing sharply from an 18.4% increase in the preceding period.

Producer prices in Norway jumped by 16.9% year-on-year in March 2026, rebounding sharply from a 9.4% drop in the previous month. This marked the first month of increase in eleven months and the fastest since February last year, driven largely by significantly higher prices for electricity, gas and steam, which climbed by 46% from 30.7% in February. Producer inflation also increased sharply for energy goods (26.6% vs -20.9%) and extraction of oil and natural gas (25.3% vs -27.4%), while costs in manufacturing showed a modest rise (1.5% vs 0.9%). Within manufacturing, the decline in refined petroleum products (-11.6%) was offset by increases in food products (5.5%), basic metals (1.1%), and machinery and equipment (4.2%). Excluding energy goods, producer prices went up by 3.7%, easing from a 4.2% gain in February. On a monthly basis, producer prices surged by 18.4% in March, the sharpest rise on record and recovering from a 0.7% fall in the preceding period.

Producer prices in Norway dropped 9.4% year-on-year in February 2026, deepening the decline from a 7.8% fall in January. The decrease was driven by the extraction of oil and natural gas, which fell 27.4%, following a 25.7% drop the previous month. Energy goods also declined more sharply, falling 20.9% compared with January’s 17.5% decrease. Meanwhile, price growth for electricity, gas, and steam slowed to 30.7%, down from 58.2%, while costs in manufacturing remained steady at 0.9%. Within manufacturing, the decline in refined petroleum products (-23.2%) was offset by increases in food products (7.1%), basic metals (2.8%), and machinery and equipment (5.4%). Excluding energy goods, producer prices rose 4.2%, accelerating from a 3.0% increase in January. On a monthly basis, producer prices fell 0.7%, reversing an 8.9% jump in January.