Norway Inflation September 2016


Norway: Inflation eases further in September

In September, consumer prices climbed 0.3% from the previous month, which contrasted August’s reading (-0.5% month-on-month) but undershot market expectations of a 0.7% increase. According to Statistics Norway, higher prices for apparel were the main driver behind the pickup.

Inflation decelerated to 3.6% in September from 4.0% in August. Nonetheless, September’s rate is still largely above the Central Bank’s target of a 2.5% annual change in consumer prices. Annual average inflation in September inched up to 3.3% from August’s 3.2% and marked the highest level seen since June 2009.

Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, increased 0.3% month-on-month in September, which contrasted August’s 0.5% drop. Core inflation decreased from 3.3% in August to 2.9% in September.

The Norwegian Central Bank expects inflation to average 3.6% in 2016 and 2.6% in 2017. FocusEconomics Consensus Forecast panelists expect inflation to average 3.2% in 2016, which is up 0.1 percentage points from last month’s estimate. In 2017, the panel expects inflation to average 2.4%.

Sample Report

Looking for forecasts related to Inflation in Norway? Download a sample report now.


Norway Inflation Chart

Norway Inflation September 2016 0

Note: Year-on-year and month-on-month variation of consumer price index in %.

Norway Economic News

  • Norway: Inflation steady in December

    January 10, 2017

    Consumer prices in December declined 0.5% from the previous month, contrasting the 0.2% increase recorded in November and undershooting analysts’ expectations of a 0.1% drop.

    Read more

  • Norway: Industrial production loses steam in November

    January 6, 2017

    Industrial production in November rose a meagre 0.5% from the previous month in seasonally adjusted terms, a sharp slowdown from the 10.1% rise experienced in October.

    Read more

  • Norway: Norges Bank leaves rate unchanged at 0.50%

    December 15, 2016

    At its 15 December policy meeting, Norges Bank (NB) decided to leave its key policy rate at the all-time low of 0.50%, as was expected by market participants. Norges Bank described the global economic environment as moderately improving, but with persistent low inflation and low policy rates in Norway’s main trading partners.

    Read more

  • Norway: Inflation falls slightly in November

    December 9, 2016

    Norwegian consumer prices in November climbed 0.2% from the previous month, below the 0.5% increase recorded in October and matching analysts’ expectations.

    Read more

  • Norway: Industrial production rebounds in October

    December 7, 2016

    Industrial production in October rose 10.7% from the previous month in seasonally adjusted terms, contrasting the 5.2% decline experienced in September and marking the largest monthly increase since April 2002.

    Read more

More news

Search form