Norway Producer Inflation Slows in June

2026-07-14 07:08 By Kyrie Dichosa 1 min. read

Producer prices in Norway rose 14.9% year-on-year in June 2026, slowing from a 24.0% surge in May, which marked the strongest growth since September 2022.

It was the fourth consecutive month of double-digit producer inflation, though the weakest reading in the current run.

The moderation was largely driven by slower price growth for the extraction of oil and natural gas (15.2% vs. 35.1% in May) and energy goods (23.9% vs. 41.2%), reflecting easing energy-related cost pressures.

Manufacturing producer inflation also eased to 8.6% from 9.4%.

In contrast, inflation for electricity, gas and steam accelerated to 68.8% from 58.5%, remaining the strongest contributor to overall producer price growth.

Excluding energy goods, producer prices increased 5.3%, easing from 5.7% in May, suggesting underlying inflationary pressures continued to moderate.

On a monthly basis, producer prices fell 7.1%, the biggest drop since March 2025, and following a 1.8% decline in May.



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Norway Producer Inflation Slows in June
Producer prices in Norway rose 14.9% year-on-year in June 2026, slowing from a 24.0% surge in May, which marked the strongest growth since September 2022. It was the fourth consecutive month of double-digit producer inflation, though the weakest reading in the current run. The moderation was largely driven by slower price growth for the extraction of oil and natural gas (15.2% vs. 35.1% in May) and energy goods (23.9% vs. 41.2%), reflecting easing energy-related cost pressures. Manufacturing producer inflation also eased to 8.6% from 9.4%. In contrast, inflation for electricity, gas and steam accelerated to 68.8% from 58.5%, remaining the strongest contributor to overall producer price growth. Excluding energy goods, producer prices increased 5.3%, easing from 5.7% in May, suggesting underlying inflationary pressures continued to moderate. On a monthly basis, producer prices fell 7.1%, the biggest drop since March 2025, and following a 1.8% decline in May.
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