Norway's annual inflation rate stood at 2.9 percent in April 2019, unchanged from the previous month's nine-month low, but slightly above market consensus of 2.8 percent. Prices rose at a faster pace for: housing & utilities (3.0 percent vs 2.7 percent in March); transport (4.6 percent vs 3.5 percent); recreation & culture (4.1 percent vs 3.2 percent); and miscellaneous goods & services (1.5 percent vs 1.4 percent). On the other hand, inflation slowed for food & non-alcoholic beverages (1.9 percent vs 2.9 percent); furnishings, household equipment & routine maintenance (2.4 percent vs 3.2 percent); and restaurants & hotels (2.3 percent vs 4.2 percent). The core inflation rate, which is adjusted for tax changes and excludes energy products, decreased to 2.6 percent in April from 2.7 percent in the prior month, but remained above consensus of 2.5 percent. On a monthly basis, consumer prices rose 0.4 prices and the core index increased 0.5 percent. Inflation Rate in Norway averaged 4.59 percent from 1950 until 2019, 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.
Inflation Rate in Norway is expected to be 2.70 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 2.10 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.