Norway Inflation January 2020


Norway: Inflation accelerates in January

February 10, 2020

Consumer prices were flat in January, following up December’s 0.3% fall. The reading was primarily due to higher prices for food and non-alcoholic beverages, which were offset by lower prices for housing and utilities.

Inflation rose to 1.8% in January from 1.3% in December, consequently moving closer from the Norges Bank’s 2.0% target rate. Meanwhile, average inflation ticked down to 2.1% in January from 2.2% the month prior.

The Central Bank projects that inflation will average 2.0% in 2020. FocusEconomics Consensus Forecast panelists also expect inflation to average 2.0% in 2020, which is unchanged from last month’s estimate. In 2021, they expect inflation to average 2.1%.

Author:, Economist

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Norway Inflation Chart

Norway Inflation January 20 20

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Norway (SSB).

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