In January, consumer prices rose 0.08% over the previous month in seasonally adjusted terms, after remaining unchanged in December. According to Statistics Norway, the January reading was the result of higher prices for fuels and lubricants as well as for the maintenance and repair of personal transports, which were partially offset by lower electricity prices. Annual headline inflation increased from 0.2% in December to 0.5% in January, which overshot market expectations that had inflation inching up to 0.3%. The monthly figure broke a moderating trend in place since October 2011. Meanwhile, annual core inflation, which excludes taxes, fees and energy prices, stepped up from December's 1.0% to 1.3%, the highest rate since April 2011.
Inflation climbs in January
February 10, 2012
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Norway Economic News
October 10, 2016
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.
October 7, 2016
In August, industrial production decreased 4.7% over the previous month in seasonally-adjusted terms, which contrasted the 4.7% expansion recorded in July and marked the lowest reading since April 2015.
September 22, 2016
At its 21 September 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 noted that global growth was moderate and that in the medium term import demand from its main trading partners will be lower than previously expected.
September 9, 2016
In August, consumer prices dropped 0.5% over the previous month, which contrasted July’s reading (+0.6% month-on-month) and undershot market expectations of a 0.4% drop.
September 7, 2016
In July, industrial production expanded 5.5% over the previous month in seasonally-adjusted terms, which marked a rebound from the 4.7% fall recorded in June and represented the highest reading since October 2012.