Norway Inflation September 2021

Norway

Norway: Inflation hits over five-year high in September

October 11, 2021

Consumer prices increased 1.03% in September over the previous month, after the flat result seen in August. September's figure marked the highest reading since January and was primarily driven by rising prices for housing and utilities, and clothing and footwear. In addition, price pressures for transportation dropped at a more moderate pace.

Inflation increased to 4.1% in September, above August’s 3.4% and marking the highest inflation rate since July 2016. Accordingly, the trend pointed up mildly, with annual average inflation coming in at 2.6% in September (August: 2.4%). Lastly, core inflation ticked up to 1.2% in September, from August’s 1.0%.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.8% in 2021, which is up 0.1 percentage points from last month’s estimate. In 2022, they expect inflation to average 1.8%, which is unchanged from the prior month’s forecast.


Author:, Economist

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Norway Inflation September 2021 0

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


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