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Norway Inflation January 2022

Norway: Inflation softens to six-month low in January

Consumer prices declined 0.93% in January over the previous month, swinging from the 0.68% increase logged in December. The result marked the sharpest drop in prices since January 2007 and was due to prices for housing and utilities and for transport falling in January.

Inflation came in at a six-month low of 3.2% in January, which was a moderation from December’s over 13-year high of 5.3%. Meanwhile, the trend was stable, with annual average inflation coming in at December’s 3.5% in January. Lastly, core inflation softened to 1.3% in January (December: 1.8%).

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