Norway Producer Inflation Nears 4-Year High

Producer prices in Norway climbed 24.0% year-on-year in May 2026, accelerating from 22.7% in the previous month. It marked the third consecutive month of increases and the highest reading since September 2022, driven by stronger price growth in manufacturing (9.4% vs 7.4% in April), particularly for refined petroleum products (64.7% vs 42.3%) and basic metals (14.1% vs 10.4%). Producer inflation was also supported by faster growth in prices for electricity, gas and steam (58.5% vs 46.4%) and energy goods (41.2% vs 39.0%). Meanwhile, costs for the extraction of oil and natural gas eased slightly (35.1% vs 35.5%). Excluding energy goods, producer prices increased 5.7%, from 4.5% in April. On a monthly basis, producer prices fell 1.8% in May, following a 0.5% fall in the previous month.

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.