Norway's annual producer inflation eased sharply to 0.4 percent in May 2019, the lowest figure since November 2016, from 2.6 percent in the previous month. Manufacturing inflation slowed to 2 percent from 4.1 percent in April, while prices of extraction and related services continued to decline (-5.1 percent vs -1.8 percent). Meantime, cost of electricity, gas & steam increased faster (26.4 percent vs 18.5 percent). On a monthly basis, producer prices fell by 1 percent in May, following a 0.7 percent gain in April. Producer Prices Change in Norway averaged 5.96 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 1.20 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 2.30 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.