Norway Inflation April 2018


Norway: Inflation accelerates in April

May 9, 2018

Consumer prices rose 0.4% month-on-month in April, up from the 0.3% increase recorded in March. According to Statistics Norway, the uptick was driven by higher prices for clothing and footwear. There was also a notable increase in restaurant and hotel prices. On the other hand, prices for housing, water, electricity, gas and other fuels decreased compared to the previous month.

Inflation edged up to 2.4% in April, up from 2.2% in March and marking an over one-year high. This was above market expectations and the Central Bank’s target of 2.0%. Meanwhile, annual average inflation was unchanged at 1.7%.

Core consumer prices—which are adjusted for tax changes and exclude energy prices—increased 0.5% month-on-month in April, coming in above March’s 0.2% rise. Core inflation, meanwhile, inched up to 1.3% in April from 1.2% in March.

The Central Bank projects that inflation will average 2.1% in 2018 and 1.7% in 2019. FocusEconomics Consensus Forecast panelists expect inflation to average 1.9% in 2018, which is up 0.1 percentage points from last month’s estimate. In 2019, they expect inflation to average 1.8%.


Sample Report

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


Norway Economic News

More news

Search form