Norway: Inflation ebbs in June from May
Latest reading: Consumer prices were up 2.7% in annual terms in June, following a 3.1% rise in the prior month. June’s reading was the weakest since April 2025.
Relative to the prior month’s data, there were reduced price pressures for transportation (+1.7% on a year-on-year basis vs +2.6% in May) and food and non-alcoholic beverages (+2.3% vs +3.4% in May). In contrast, there were higher price pressures for housing and utilities (+3.4% vs +2.8% in May) and clothing and footwear (+2.6% vs +1.8% in May).
Meanwhile, core consumer prices—Norges Bank’s preferred gauge of price pressures—increased 2.7% in annual terms in June, following a 3.4% increase in the previous month.
Lastly, consumer prices were down 0.19% in June on a month-on-month basis, following a 0.19% rise in the previous month.