Norway Inflation October 2020


Norway: Inflation increases in October

November 10, 2020

Consumer prices increased 0.27% from the previous month in October, a smaller increase than the 0.36% increase logged in September. The softer rise was primarily driven by a milder increase in prices for housing and utilities. In addition, price pressures for food and non-alcoholic beverages dropped at a faster pace while prices for recreation and culture goods also fell.

Inflation inched up to 1.7% in October from September’s 1.6%. Meanwhile, the trend was unchanged with annual average inflation coming in at 1.4% in October for the third month running. Core inflation rose to 3.4% from the previous month's 3.3%.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2021, which is up 0.1 percentage points from last month’s estimate. In 2022, they expect inflation to average 1.8%.

Author:, Economist

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Norway Inflation Chart

Norway Inflation October 20 20

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

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