Norway Inflation March 2021

Norway

Norway: Inflation eases in March

April 9, 2021

Consumer prices fell 0.26% from the previous month in March, swinging from February's 0.70% increase. Looking at the details of the release, food and non-alcoholic beverages prices dropped in March compared to the previous month, while price pressures for transportation eased.

Inflation eased to 3.1% in March, slightly below February’s 3.3%. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 1.7% in March (February: 1.5%). Lastly, core inflation was unchanged, coming in at February's 2.7% in March.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% 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 March 2021

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


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