Norway's annual inflation rate was at 6.8 percent in July, compared with market forecasts and June's figure of 6.3 percent. It was the highest figure since July 1988, with main upward pressure largely coming from cos of food and non-alcoholic beverages (10.4 percent vs 5.0 percent in June), transport (11.3 percent vs 11.7 percent in June), housing and utilities (6.8 percent vs 8.3 percent), health (2.4 percent vs 2.2 percent), restaurants and hotels (8.5 percent vs 9.2 percent) and miscellaneous goods and services (3.4 percent vs 2.9 percent). The CPI adjusted for tax changes and excluding energy products, climbed to a record high of 4.5 percent, accelerating from 3.6 percent in June and above consensus of 3.8 percent. On a monthly basis, consumer prices went up 1.3 percent in July, the most since January 1988, after a 0.9 percent rise in June. source: Statistics Norway
Inflation Rate in Norway averaged 4.51 percent from 1950 until 2022, 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 August of 2022.
Inflation Rate in Norway is expected to be 5.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Inflation Rate is projected to trend around 1.70 percent in 2023, according to our econometric models.