Norway Inflation August 2020

Norway

Norway: Inflation in August hits highest level since January

September 10, 2020

Consumer prices fell 0.35% in August over the previous month, swinging from July's 0.71% increase. August's result marked the sharpest fall in prices since August 2019. Looking at the details of the release, food and non-alcoholic beverages, transportation, and clothing and footwear prices dropped in August compared to the previous month.

Inflation came in at 1.7% in August, above July’s 1.3%. August's reading marked the highest inflation rate since January. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 1.4% in August (July: 1.3%). Lastly, core inflation rose to 3.7% from July’s 3.5%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.3% in 2020, which is up 0.1 percentage points from last month’s estimate. In 2021, they expect inflation to average 2.1%.


Author:, Economist

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Norway Inflation August 20 20

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


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