Norway Inflation

Norway

Norway: Inflation unchanged in April

May 11, 2015

In April, consumer prices rose 0.4% over the previous month, which was slightly above the 0.3% increase recorded in March and in line with market expectations. According to Statistics Norway, the increase was mainly driven by a sharp increase in the prices of recreational and cultural items. This marks the second month in a row in which this component was the biggest contributor to inflation.

April’s annual headline inflation reading was stable at March’s 2.0%. Annual average inflation in April also remained at the previous month’s 2.0%

Meanwhile, the core consumer price index, which excludes taxes, fees and energy prices, rose 0.4% over the previous month, which is unchanged from March’s reading. Annual core inflation inched down from March’s 2.3% to 2.1% in April.

The Norwegian Central Bank expects inflation to average 2.25% in both 2015 and 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 also average 2.1%.


Author:, Economist

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Norway Inflation Chart


Norway Inflation April 2015

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


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