Norway's annual inflation rate rose to 5.7 percent in May 2022 from 5.4 percent in April and compared with market estimates of 5.6 percent. It was the highest figure since December 1988, with main upward pressure coming from transport (9.4 percent vs 8.3 percent in April), housing and utilities (8.0 percent vs 10.1 percent), food and non-alcoholic beverages (2.6 percent vs 1.7 percent), clothing and footwear (2.5 percent vs 3.1 percent), health (1.9 percent vs 2 percent), restaurants and hotels (7.7 percent vs 6.8 percent) and miscellaneous goods and services (2.4 percent vs 12.2 percent). The CPI adjusted for tax changes and excluding energy products, rose to a 19-month high of 3.4 percent, accelerating from 2.6 percent in April and above expectations of 3.1 percent. source: Statistics Norway
Inflation Rate in Norway averaged 4.51 percent from 1950 until 2022, reaching an all time high of 18.90 percent in June of 1951 and a record low of -1.80 percent in January of 2004. This page provides - Norway Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Inflation Rate in Norway is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Inflation Rate is projected to trend around 1.70 percent in 2023, according to our econometric models.