Inflation in Norway

Norway Inflation (eop) | Economic News & Forecasts

Norway - Inflation (end of period)

Inflation recedes further in December

Inflation came in at 5.9% in December, which was down from November’s 6.5%. December's reading marked the lowest inflation rate since May. Looking at the details of the release, prices for housing and utilities grew at a more moderate rate in December. Prices for transportation also rose at a softer rate.

Still, the trend pointed up slightly, with annual average inflation coming in at 5.8% in December (November: 5.7%). Meanwhile, core inflation ticked up to 5.8% in December, from November’s 5.7%.

Lastly, consumer prices increased 0.08% in December over the previous month, swinging from November's 0.16% fall.

FocusEconomics Consensus Forecast panelists expect inflation to average 4.5% in 2023, which is up 0.2 percentage points from last month’s estimate. In 2024, they expect inflation to average 2.4%.

Norway - Inflation (eop) Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %, eop)2.3  3.5  1.6  3.5  1.4  

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Norway Inflation (eop) Chart

Norway Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics Norway and FocusEconomics calculations.

Norway Facts

Value Change Date
Bond Yield1.58-0.65 %Jan 01
Exchange Rate8.78-0.38 %Jan 01

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