Norway Producer Inflation Hits Near 4-Year High

Producer prices in Norway surged 48.8% year-on-year in September 2026, following a 30.1% increase in August, marking the highest level in four years. Prices rose sharply for oil and natural gas extraction (94.6% vs 52.1% in August), energy goods (90.1% vs 53.2%), and electricity, gas, and steam (63.4% vs 57.9%), amid supply disruptions in the Middle East. Manufacturing prices also increased (9.2% vs 7.9%). Excluding energy goods, producer prices rose 6.7%, after a 5.4% increase in the previous month. By market, the increase in prices was more pronounced in the export market (70.4% vs 41.4%) than in the domestic market (15.9% vs 11.9%). On a monthly basis, producer prices jumped 12.4% in September, the largest increase since March, following a 4.7% rise in August.

Producer prices in Norway soared by 30.1% year-on-year in August 2026, accelerating from 23.4% in the previous month. It marked the highest reading since September 2022, driven by broad-based increases across major sub-indices, including extraction of oil and natural gas (52.1% vs 38.2% in July), manufacturing (7.9% vs 6.4%), electricity, gas and steam (57.9% vs 41%), and energy goods (53.2% vs 39.8%). Excluding energy goods, producer price growth edged up to 5.4% from 5.3% in July. By market, producer prices in the domestic market rose to 11.9% from 10%, while export market prices climbed to 41.4% from 31%. On a monthly basis, producer price growth eased to 4.7% in August from a four-month high of 8.9% in July.

Producer prices in Norway surged 23.4% year-on-year in July 2026, picking up from a four-month low of 14.9% in the previous month. The increase was driven mainly by a sharp acceleration in energy-related prices, with costs for the extraction of oil and natural gas jumping to 38.2% from 15.2% in June, while energy goods inflation climbed to 39.8% from 23.9%. In contrast, price growth eased in manufacturing (6.4% vs 8.6%) and in electricity, gas, and steam (41.0% vs 68.8%). Excluding energy goods, producer price inflation was unchanged at 5.3%, indicating more moderate underlying price pressures. On a monthly basis, producer prices rose 8.9%, rebounding strongly from a 7.1% decline in June.