Norway Inflation November 2020

Norway

Norway: Inflation drops sharply in November

December 10, 2020

Consumer prices fell 0.71% over the previous month in November, contrasting October's 0.27% rise. November's result marked the sharpest fall in prices since August 2019. The reading was primarily due to plunging prices for housing and utilities while transportation costs also decreased.

Inflation fell to 0.7% in November, from October’s 1.7%. November's figure marked the weakest inflation rate since March. Annual average inflation edged down to 1.3% in November (October: 1.4%), while core inflation fell to 2.9% from the previous month's 3.4%.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2021, which is up 0.1 percentage points from last month’s estimate. In 2022, they expect inflation to average 1.8%.


Author:, Economist

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Norway Inflation November 20 20

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


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