Norway Inflation September 2016

Norway

Norway: Inflation eases further in September

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. According to Statistics Norway, higher prices for apparel were the main driver behind the pickup.

Inflation decelerated to 3.6% in September from 4.0% in August. Nonetheless, September’s rate is still largely above the Central Bank’s target of a 2.5% annual change in consumer prices. Annual average inflation in September inched up to 3.3% from August’s 3.2% and marked the highest level seen since June 2009.

Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, increased 0.3% month-on-month in September, which contrasted August’s 0.5% drop. Core inflation decreased from 3.3% in August to 2.9% in September.

The Norwegian Central Bank expects inflation to average 3.6% in 2016 and 2.6% in 2017. FocusEconomics Consensus Forecast panelists expect inflation to average 3.2% in 2016, which is up 0.1 percentage points from last month’s estimate. In 2017, the panel expects inflation to average 2.4%.


Author: Marlène Rump, Senior Data Analyst

Sample Report

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

Download

Norway Inflation Chart


Norway Inflation September 2016 0

Note: Year-on-year and month-on-month variation of consumer price index in %.


Norway Economic News

  • Norway: Inflation remains steady in January

    February 9, 2018

    Consumer prices decreased 0.1% in January from the previous month—below market expectations of no change and representing the first month-on-month decline since August last year.

    Read more

  • Norway: Economy contracts in the fourth quarter on lower oil and gas output

    February 9, 2018

    In the fourth quarter of 2017, the economy shrank a seasonally-adjusted 0.3% from the previous quarter, below both market analysts’ expectations of a 0.6% quarter-on-quarter expansion and the third quarter’s revised growth of 0.8% (previously reported: +0.7% quarter-on-quarter).

    Read more

  • Norway: Industrial production decreases in December

    February 7, 2018

    According to Statistics Norway, industrial production fell a seasonally-adjusted 0.4% from the previous month in December, a swing from November’s revised increase of 0.4% (previously reported: +0.6% month-on-month). A contraction in the extraction and related services sector—the largest industrial sector in Norway—spurred the decrease.

    Read more

  • Norway: Inflation accelerates in December

    January 10, 2018

    Consumer prices were unchanged in December last year from the previous month, marking a slowdown compared to the modest increases seen in the prior months.

    Read more

  • Norway: Industrial production expands in November

    January 8, 2018

    According to Statistics Norway, industrial production rose by a seasonally-adjusted 0.6% from the previous month in November, contrasting October’s revised 1.3% decrease (previously reported: -1.4% month-on-month). The expansion in the extraction and related services sector—the largest industrial sector in Norway—drove the increase.

    Read more

More news

Search form