Norway's annual inflation rate inched down to 1.6 percent in September 2020 from 1.7 percent in the previous month and below market expectations of 2 percent. Prices rose at a softer pace for transport (1.0 percent vs 2.0 percent); furnishings, household equipment & routine maintenance (8.1 percent vs 10 percent). Meantime, prices continued to rise for both food & non-alcoholic beverages (3.8 percent vs 3.7 percent) and recreation & culture (4.3 percent vs 3.9 percent). On the other hand, housing & utilities prices dropped further (-2.8 percent vs -4.1 percent). The CPI adjusted for tax changes and excluding energy products decreased 3.3 percent in September, the least since June, from 3.7 percent in August. On a monthly basis, consumer prices rose 0.4 percent, while the core index were up 0.4 percent.
Inflation Rate in Norway averaged 4.53 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 October of 2020. source: Statistics Norway
Inflation Rate in Norway is expected to be 1.70 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 2.70 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 2.80 percent in 2021 and 2.00 percent in 2022, according to our econometric models.