Norway's producer prices dropped by 8.6 percent year-on-year in July 2019, following a 6.5 percent decline in the previous month. This marked the steepest yearly fall in producer prices since June 2016 when the reading posted a 9.6 percent decrease. Prices fell faster for both extraction and related services (-19 percent vs -16 percent in June); and electricity, gas & steam (-8 percent vs -2.6 percent). In addition, manufacturing cost declined 0.9 percent, compared to a 0.2 percent rise in a month earlier. On a monthly basis, producer prices fell 1.2 percent in July, after a 4.9 percent drop in June. Producer Prices Change in Norway averaged 5.84 percent from 2000 until 2019, reaching an all time high of 33.90 percent in August of 2008 and a record low of -18.70 percent in November of 2001.
Producer Prices Change in Norway is expected to be -6.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Norway to stand at 1.40 in 12 months time. In the long-term, the Norway Producer Prices Change is projected to trend around 2.20 percent in 2020, according to our econometric models.