Norway's producer prices rose by 14.9 percent year-on-year in November 2018, following a 22.5 percent increase in the previous month. It was the lowest producer inflation since April, as prices rose at a softer pace for: extraction and related services (24.9 percent vs 44.7 percent in October); manufacturing (6.9 percent vs 8.3 percent); electricity, gas and steam (39.4 percent vs 43.2 percent); and mining and quarrying (4.7 percent vs 5 percent). Meanwhile, water supply inflation was unchanged at 11.2 percent. On a monthly basis, producer prices declined 3.2 percent in November, following a 3.6 percent jump in October and marking the first monthly drop since February. Producer Prices Change in Norway averaged 5.98 percent from 2001 until 2018, reaching an all time high of 33.90 percent in August of 2008 and a record low of -18.60 percent in November of 2001.
Producer Prices Change in Norway is expected to be 12.50 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 4.00 in 12 months time. In the long-term, the Norway Producer Prices Change is projected to trend around 3.20 percent in 2020, according to our econometric models.