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.

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Norway Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-07-11 06:00 AM Jun 6.3% 5.7% 5.9% 6.2%
2022-08-10 06:00 AM Jul 6.8% 6.3% 6.3% 6.3%
2022-09-09 06:00 AM Aug 6.8%


Related Last Previous Unit Reference
Inflation Rate 6.80 6.30 percent Jul 2022
Consumer Price Index CPI 124.20 122.60 points Jul 2022
Harmonised Consumer Prices 126.00 124.30 points Jul 2022
Core Inflation Rate 4.50 3.60 percent Jul 2022
Core Consumer Prices 119.60 117.80 points Jul 2022
GDP Deflator 133.06 124.89 points Mar 2022
Producer Prices 231.20 215.00 points Jul 2022
Producer Prices Change 73.60 68.80 percent Jul 2022
Export Prices 202.10 182.70 points Jun 2022
Import Prices 188.80 175.60 points Jun 2022
Food Inflation 5.00 2.60 percent Jun 2022
Inflation Rate Mom 1.30 0.90 percent Jul 2022
CPI Transportation 131.40 130.30 points Jul 2022
CPI Housing Utilities 128.70 128.50 points Jul 2022

Norway Inflation Rate
In Norway, the most important category in the consumer price index is Housing and Utilities (23 percent of total weight). Transport accounts for 16 percent; Food and Non-Alcoholic Beverages for 13 percent; Recreation and Culture for 12 percent; Miscellaneous Goods and Services for 9 percent and Furniture, Household Goods and Maintenance for 7 percent. Restaurants and Hotels; Clothing and Footwear; Alcoholic beverages and Tobacco; Health; Communication and Education account for the remaining 21 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
6.80 6.30 18.90 -1.80 1950 - 2022 percent Monthly
2015=100

News Stream
Norway Inflation Rate Highest in 34 Years
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.
2022-08-10
Norway Inflation Rate Highest Since 1988
Norway's annual inflation rate increased to 6.3 percent in June 2022 from 5.7 percent in May and beating market estimates of 5.9 percent. It was the highest figure since October 1988, with main upward pressure coming from transport (11.7 percent vs 9.4 percent in May), housing and utilities (8.3 percent vs 8.0 percent), food and non-alcoholic beverages (5.0 percent vs 2.6 percent), clothing and footwear (2.1 percent vs 2.5 percent), health (2.2 percent vs 1.9 percent), restaurants and hotels (9.2 percent vs 7.7 percent) and miscellaneous goods and services (2.9 percent vs 2.4 percent). The CPI adjusted for tax changes and excluding energy products, climbed to a 22-month high of 3.6 percent, accelerating from May’s of 3.4 percent and matching expectations.
2022-07-11
Norway Inflation Rate Highest in Over 33 Years
Norway's annual inflation rate rose to 5.7 percent in May 2022 from 5.4 percent in April and compared with market estimates of 5.6 percent. It was the highest figure since December 1988, with main upward pressure coming from transport (9.4 percent vs 8.3 percent in April), housing and utilities (8.0 percent vs 10.1 percent), food and non-alcoholic beverages (2.6 percent vs 1.7 percent), clothing and footwear (2.5 percent vs 3.1 percent), health (1.9 percent vs 2 percent), restaurants and hotels (7.7 percent vs 6.8 percent) and miscellaneous goods and services (2.4 percent vs 12.2 percent). The CPI adjusted for tax changes and excluding energy products, rose to a 19-month high of 3.4 percent, accelerating from 2.6 percent in April and above expectations of 3.1 percent.
2022-06-10