Norway Inflation February 2020


Norway: Inflation eases in February

March 10, 2020

Consumer prices fell 0.1% in February, following January’s flat reading. The slight fall was primarily due to lower prices for housing and utilities, clothing and footwear, and transportation.

Inflation softened to 0.9% in February from 1.8% in January, consequently moving further below the Norges Bank’s 2.0% target rate. Meanwhile, average inflation ticked down from 2.1% in January to 1.9% in February.

The Central Bank projects that inflation will average 1.3% in 2020 and 3.0% in 2021. FocusEconomics Consensus Forecast panelists 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 February 20 20

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

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