Norway's annual inflation rate inched higher to 0.8 percent in April 2020 from 0.7 percent in the previous month, beating market expectations of 0.4 percent. Prices rose at a faster pace for food & non-alcoholic beverages (4.4 percent vs 2.7 percent in March), furnishings, household equipment & routine maintenance (5.9 percent vs 3.4 percent) and recreation & culture (2.7 percent vs 2.2 percent). Meantime, transport inflation eased steeply (0.2 percent vs 1.4 percent), while housing & utilities deflation accelerated (-4.3 percent vs -3.4 percent). The CPI adjusted for tax changes and excluding energy products increased 2.8 percent in April, also above market consensus of 2.1 percent. On a monthly basis, consumer prices rose 0.4 percent and the core index went up 1.1 percent.

Inflation Rate in Norway averaged 4.55 percent from 1950 until 2020, 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 May of 2020. source: Statistics Norway

Inflation Rate in Norway is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Norway to stand at 1.70 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 1.90 percent in 2021, according to our econometric models.

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Norway Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.80 0.70 18.90 -1.80 1950 - 2020 percent Monthly
2015=100


Calendar GMT Actual Previous Consensus TEForecast
2020-02-10 07:00 AM Jan 1.8% 1.4% 1.2% 1.2%
2020-03-10 07:00 AM Feb 0.9% 1.8% 1.6% 1.7%
2020-04-08 06:00 AM Mar 0.7% 0.9% 0.8% 0.6%
2020-05-11 06:00 AM Apr 0.8% 0.7% 0.4% 0.3%
2020-06-10 06:00 AM May 0.8%
2020-07-10 06:00 AM Jun -1.5%
2020-08-10 06:00 AM Jul
2020-09-10 06:00 AM Aug


News Stream
Norway Inflation Rate Above Forecasts in April
Norway's annual inflation rate inched higher to 0.8 percent in April 2020 from 0.7 percent in the previous month, beating market expectations of 0.4 percent. Prices rose at a faster pace for food & non-alcoholic beverages (4.4 percent vs 2.7 percent in March), furnishings, household equipment & routine maintenance (5.9 percent vs 3.4 percent) and recreation & culture (2.7 percent vs 2.2 percent). Meantime, transport inflation eased steeply (0.2 percent vs 1.4 percent), while housing & utilities deflation accelerated (-4.3 percent vs -3.4 percent). The CPI adjusted for tax changes and excluding energy products increased 2.8 percent in April, also above market consensus of 2.1 percent. On a monthly basis, consumer prices rose 0.4 percent and the core index went up 1.1 percent.
2020-05-11
Norway Inflation Rate Slows to 7-1/2-Year Low
Norway's annual inflation rate dropped to 0.7 percent in March 2020, the lowest since September 2012 and slightly below market expectations of 0.8 percent. Price increases softened for both transport (1.4 percent vs 1.9 percent in February) and recreation & culture (2.2 percent vs 2.5 percent), while housing & utilities deflation deepened (-3.4 percent vs -3.0 percent). Meantime, inflation accelerated for both food & non-alcoholic beverages (2.7 percent vs 2.0 percent) and furnishings, household equipment & routine maintenance (3.4 percent vs 3.2 percent). The core inflation rate, which is adjusted for tax changes and excludes energy products, stood at 2.1 percent in March, matching consensus. On a monthly basis, consumer prices were flat and the core index went up 0.3 percent.
2020-04-08
Norway Inflation Rate Eases to 7-1/2-Year Low
Norway's annual inflation rate fell to 0.9 percent in February 2020 from 1.8 percent in the previous month, far below market expectations of 1.6 percent. It was the lowest rate since September 2012, mainly due to softer price increases for both transport (1.9 percent vs 2.8 percent in January) and food & non-alcoholic beverages (2.0 percent vs 2.1 percent), and a decline in cost for housing & utilities (-3.0 percent vs -2.1 percent). Also, inflation slowed for furnishings, household equipment & routine maintenance (3.2 percent vs 6.5 percent) and recreation & culture (2.5 percent vs 2.7 percent). The core inflation rate, which is adjusted for tax changes and excludes energy products, declined to 2.1 percent in February from 2.9 percent in January, also below consensus of 2.4 percent. On a monthly basis, consumer prices edged down 0.1 percent and the core index went up 0.5 percent.
2020-03-10
Norway Inflation Rate Beats Forecasts in January
Norway's annual inflation increased to 1.8 percent in January 2020 from 1.4 percent in the previous month, easily beating market expectations of 1.2 percent. This was the highest rate since October, boosted by prices of: transport (2.8 percent vs 2.3 percent in December); food and non-alcoholic beverages (2.1 percent vs -0.4 percent); miscellaneous goods & services (2.7 percent vs 1.6 percent); furnishings, household equipment & routine maintenance (6.5 percent vs 1.8 percent); and recreation & culture (2.7 percent vs 2.0 percent). Meantime, restaurants & hotels cost went up at a softer pace (2.1 percent vs 2.2 percent), while housing & utilities prices fell (-2.1 percent vs 0.3 percent). The core inflation rate, which is adjusted for tax changes and excludes energy products, increased to 2.9 percent in January, the highest since October 2016 and well above consensus of 2 percent. On a monthly basis, consumer prices were flat and the core index went up 0.4 percent.
2020-02-10

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.