Norway Inflation March 2016

Norway

Norway: Inflation hits nearly-five-year high in March

April 10, 2016

In March, consumer prices rose 0.5% over the previous month, which was level with February’s reading and marked a slightly higher increase then the 0.4% markets had expected. According to Statistics Norway, housing, water, electricity, gas and other fuels, as well as the transportation component observed the strongest price increases and more than offset decreases in the prices of food and non-alcoholic beverages.

Inflation in March inched up from February’s 3.1% to 3.3%, marking the highest reading since April 2010. Annual average inflation in March was 2.5%, up slightly from February’s reading of 2.4%.

Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, increased 0.3% over the previous month, following February’s 1.0% rise. Core inflation came in at 3.3% in March, down from 3.4% in February.

The Norwegian Central Bank expects inflation to average 3.1% in 2016 and 2.3% in 2017. FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2016, which is unchanged from last month’s estimate. In 2017, the panel expects inflation also to average 2.2%.


Author:, Economist

Sample Report

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

Download

Norway Inflation Chart


Norway Inflation March 2016

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


Norway Economic News

  • Norway: Industrial production growth rebounds in October

    December 7, 2018

    According to Statistics Norway, industrial production rose a seasonally-adjusted 2.3% in October compared to the previous month, contrasting the revised 2.0% fall in September (previously reported: -1.5% month-on-month). The rebound in October was due to a broad-based improvement across industrial sectors.

    Read more

  • Norway: The economy wobbles in September

    November 13, 2018

    According to monthly GDP data released by Statistics Norway, the total economy contracted a seasonally-adjusted 0.5% in September over the previous month, down from the revised 0.2% fall in August (previously reported: -0.1% month-on-month).

    Read more

  • Norway: Inflation moderates in October

    November 9, 2018

    Consumer prices fell 0.2% month-on-month in October, contrasting the 0.6% gain in September.

    Read more

  • Norway: Industrial production growth slows in September

    November 7, 2018

    According to Statistics Norway, industrial production fell a seasonally-adjusted 1.5% in September compared to the previous month, contrasting the revised 1.6% growth registered in August (previously reported: +1.8% month-on-month). The fall in September was due to a near-broad-based decline across industrial sectors: The extraction and related services sector—the largest industrial sector in Norway—observed a 3.5% fall in output.

    Read more

  • Norway: Norges Bank keeps rate unchanged in October

    October 24, 2018

    In line with market analysts’ expectations, Norges Bank announced on 24 October that it was keeping the sight deposit rate unchanged at 0.75%.

    Read more

More news

Search form