Norway Inflation

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Norway: Inflation inches up in March

April 10, 2015

In March, consumer prices climbed 0.3% over the previous month, which was slightly below the 0.4% increase recorded in February. The print was slightly below the 0.4% increase that market analysts had expected. According to Statistics Norway, the figure was mainly the result of a strong increase in prices for recreation and culture.

Annual headline inflation inched up to 2.0% this month, slightly surpassing February’s reading of 1.9%. Annual average inflation remained at the previous month’s 2.0% in March.

Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.4% in March (February: +0.5% month-on-month). Annual core inflation inched down to 2.3% in March, from February’s 2.4%.

The Norwegian Central Bank expects inflation to average 2.25% in 2015 and 2.25% 2016. FocusEconomics Consensus Forecast panelists expect inflation to average 2.1% in 2015, which is unchanged from last month’s estimate. In 2016, the panel expects inflation to average also 2.1%.


Author:, Economist

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Norway Inflation Chart


Norway Inflation March 2015

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Norway (SN).


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