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.

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Norway Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-10 06:00 AM Apr 5.4% 4.5% 4.7% 4.7%
2022-06-10 06:00 AM May 5.7% 5.4% 5.6% 6.3%
2022-07-11 06:00 AM Jun 5.7%


Related Last Previous Unit Reference
Inflation Rate 5.70 5.40 percent May 2022
Consumer Price Index CPI 121.50 121.20 points May 2022
Harmonised Consumer Prices 122.90 122.70 points May 2022
Core Inflation Rate 3.40 2.60 percent May 2022
Core Consumer Prices 117.20 116.70 points May 2022
GDP Deflator 133.06 124.89 points Mar 2022
Producer Prices 200.50 197.20 points May 2022
Producer Prices Change 64.60 66.40 percent May 2022
Export Prices 182.70 161.80 points Mar 2022
Import Prices 175.60 169.50 points Mar 2022
Food Inflation 2.60 1.70 percent May 2022
Inflation Rate Mom 0.20 1.20 percent May 2022
CPI Transportation 126.30 125.50 points May 2022
CPI Housing Utilities 128.20 129.50 points May 2022

Norway Inflation Rate
In Norway, the most important category in the consumer price index is Housing and Utilities (23 percent of total weight). Transport accounts for 16 percent; Food and Non-Alcoholic Beverages for 13 percent; Recreation and Culture for 12 percent; Miscellaneous Goods and Services for 9 percent and Furniture, Household Goods and Maintenance for 7 percent. Restaurants and Hotels; Clothing and Footwear; Alcoholic beverages and Tobacco; Health; Communication and Education account for the remaining 21 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
5.70 5.40 18.90 -1.80 1950 - 2022 percent Monthly
2015=100

News Stream
Norway Inflation Rate Highest in Over 33 Years
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.
2022-06-10
Norway Inflation Rate Rises More than Expected
Norway's annual inflation rate increased to 5.4 percent in April 2022 from 4.5 percent in March and above market estimates of 4.7 percent. It was the highest inflation rate since October of 2008, as prices accelerated for transport (8.3 percent vs7.9 percent in March), housing and utilities (10.1 percent vs 7.9 percent), and food and non-alcoholic beverages (1.7 percent vs 0 percent). Also, prices continued to rise for clothing and footwear (3.1 percent vs 0.6 percent), health (2 percent vs 1.7 percent), restaurants and hotels (6.8 percent vs 6.2 percent) and miscellaneous goods and services (2.2 percent vs 1.9 percent). The CPI adjusted for tax changes and excluding energy products, rose to a 13-month high of 2.6 percent, accelerating from 2.1 percent in March and above expectations of 2.4 percent.
2022-05-10
Norway Inflation Rate at 3-Month High of 4.5%
Norway's annual inflation rate increased to 4.5 percent in March 2022 from 3.7 percent in February but below market estimates of 5 percent. It was the highest inflation rate since last December, as prices accelerated for both transport (7.9 percent vs 4.6 percent in February) and housing and utilities (7.9 percent vs 5.8 percent). Prices continued to increase for recreation and culture (2.5 percent vs 3.1 percent), furnishings, household equipment, and routine maintenance (3.6 percent vs 4.9 percent), miscellaneous goods and service (1.9 percent vs 2.1 percent), while those of food and non-alcoholic beverages were flat, after rising 0.8 percent in the previous month. The CPI adjusted for tax changes and excluding energy products, rose 2.1 percent year-on-year in March, the same pace as in February, and was still the most in 11 months and below expectations of 2.3 percent.
2022-04-11