Norway Inflation June 2020

Norway

Norway: Inflation hits highest level for 5 months in June

July 10, 2020

Consumer prices rose 0.18% in June over the last month, stable from May's 0.18% rise. Looking at the details of the release, prices for housing and utilities dropped in June, while price pressures for transportation rose. Meanwhile, food and non-alcoholic beverages prices shrank at a quicker pace.

Inflation came in at 1.4% in June, up from May’s 1.3%. June's reading represented the highest inflation rate since January. Annual average inflation was unchanged at May's 1.4% in June while core inflation rose to 3.1% from the previous month's 3.0%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.2% in 2020, which is up 0.1 percentage points from last month’s estimate. In 2021, they expect inflation to average 2.2%.


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Norway Inflation June 20 20 0

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


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