Norway Inflation November 2021

Norway

Norway: Inflation hits over 13-year high in November

December 10, 2021

Consumer prices increased 0.77% over the previous month in November, contrasting the 0.26% fall seen in October. The rebound was driven by rising prices for housing and utilities and for transport.

Inflation climbed to 5.1% in November, which was up from October’s 3.5%. November's reading was the highest inflation rate since October 2008. Consequently, annual average inflation rose to 3.2% in November (October: 2.8%). Lastly, core inflation rose to 1.3% in November, from October’s 0.9%.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.0% in 2022, which is up 0.1 percentage points from last month’s estimate. In 2023, they expect inflation to average 1.7%.


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Norway Inflation November 2021

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


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