Norway's annual inflation rate dropped to 0.7 percent in November 2020 from 1.7 percent in the previous month and far below market expectations of 1.8 percent. It was the lowest inflation rate since March, as transport prices rose much less (0.1 percent vs 1.6 percent), while food & non-alcoholic beverages inflation slowed to a four-month low of 3.5 percent in November from 4.2 percent in October. Also, prices increased softer for both furnishings, household equipment & routine maintenance (7.1 percent vs 9.4 percent) and recreation & culture (3.6 percent vs 4.3 percent). In addition, prices of housing & utilities dropped faster (-4.6 percent vs -2.9 percent). The CPI adjusted for tax changes and excluding energy products declined to a seven-month low of 2.9 percent in November from 3.4 percent in October, below market expectations of a 3.4 percent growth. On a monthly basis, consumer prices were down 0.7 percent, while the core index dropped 0.4 percent. source: Statistics Norway

Inflation Rate in Norway averaged 4.52 percent from 1950 until 2020, 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 December of 2020.

Inflation Rate in Norway is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Norway to stand at 2.70 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 2.80 percent in 2021 and 2.00 percent in 2022, according to our econometric models.

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Norway Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 1.70 18.90 -1.80 1950 - 2020 percent Monthly
2015=100


Calendar GMT Actual Previous Consensus TEForecast
2020-09-10 06:00 AM Aug 1.7% 1.3% 1.7% 1.5%
2020-10-09 06:00 AM Sep 1.6% 1.7% 2% 1.8%
2020-11-10 07:00 AM Oct 1.7% 1.6% 1.7% 1.7%
2020-12-10 07:00 AM Nov 0.7% 1.7% 1.8% 1.6%
2021-01-11 07:00 AM Dec 0.7%
2021-02-10 07:00 AM Jan
2021-03-10 07:00 AM Feb
2021-04-08 06:00 AM Mar


News Stream
Norway Inflation Rate Eases to 8-Month Low
Norway's annual inflation rate dropped to 0.7 percent in November 2020 from 1.7 percent in the previous month and far below market expectations of 1.8 percent. It was the lowest inflation rate since March, as transport prices rose much less (0.1 percent vs 1.6 percent), while food & non-alcoholic beverages inflation slowed to a four-month low of 3.5 percent in November from 4.2 percent in October. Also, prices increased softer for both furnishings, household equipment & routine maintenance (7.1 percent vs 9.4 percent) and recreation & culture (3.6 percent vs 4.3 percent). In addition, prices of housing & utilities dropped faster (-4.6 percent vs -2.9 percent). The CPI adjusted for tax changes and excluding energy products declined to a seven-month low of 2.9 percent in November from 3.4 percent in October, below market expectations of a 3.4 percent growth. On a monthly basis, consumer prices were down 0.7 percent, while the core index dropped 0.4 percent.
2020-12-10
Norway Inflation Rate Matches Forecasts
Norway's annual inflation rate inched up to 1.7 percent in October 2020 from 1.6 percent in the previous month and matching market expectations. Prices rose at a faster pace for transport (1.6 percent vs 1.0 percent); food & non-alcoholic beverages (4.2 percent vs 3.8 percent); furnishings, household equipment & routine maintenance (9.4 percent vs 8.1 percent). Meantime, recreation & culture inflation was steady (at 4.3 percent). On the other hand, housing & utilities prices dropped further (-2.9 percent vs -2.8 percent). The CPI adjusted for tax changes and excluding energy products edged up to 3.4 percent in October from 3.3 percent in September, in line with market expectations. On a monthly basis, consumer prices rose 0.3 percent, while the core index inched up 0.1 percent.
2020-11-10
Norway Inflation Rate Below Expectations
Norway's annual inflation rate inched down to 1.6 percent in September 2020 from 1.7 percent in the previous month and below market expectations of 2 percent. Prices rose at a softer pace for transport (1.0 percent vs 2.0 percent); furnishings, household equipment & routine maintenance (8.1 percent vs 10 percent). Meantime, prices continued to rise for both food & non-alcoholic beverages (3.8 percent vs 3.7 percent) and recreation & culture (4.3 percent vs 3.9 percent). On the other hand, housing & utilities prices dropped further (-2.8 percent vs -4.1 percent). The CPI adjusted for tax changes and excluding energy products decreased 3.3 percent in September, the least since June, from 3.7 percent in August. On a monthly basis, consumer prices rose 0.4 percent, while the core index were up 0.4 percent.
2020-10-09
Norway Inflation Rate at 7-Month High of 1.7%
Norway's annual inflation rate increased to 1.7 percent in August 2020, the most since January, from 1.3 percent in the previous month and matching market expectations. Prices rose at a faster pace for food & non-alcoholic beverages (3.7 percent vs 2.2 percent in July); furnishings, household equipment & routine maintenance (10 percent vs 7.5 percent) and recreation & culture (3.9 percent vs 3.4 percent). In addition, housing & utilities prices fell less (-4.1 percent vs -4.4 percent). Meanwhile, prices continued to rise for transport (2.0 percent vs 2.5 percent). The CPI adjusted for tax changes and excluding energy products increased 3.7 percent in August, the most since July 2016. On a monthly basis, consumer prices fell 0.4 percent, the first monthly decline since February, while the core index were down 0.4 percent.
2020-09-10

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.