Inflation in Norway
Norway - Inflation
Inflation hits highest level for 5 months in June
Consumer prices rose 0.18% in June over the last month, stable from May's 0.18% rise. Looking at the details of the release, prices for housing and utilities dropped in June, while price pressures for transportation rose. Meanwhile, food and non-alcoholic beverages prices shrank at a quicker pace.
Inflation came in at 1.4% in June, up from May’s 1.3%. June's reading represented the highest inflation rate since January. Annual average inflation was unchanged at May's 1.4% in June while core inflation rose to 3.1% from the previous month's 3.0%.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.2% in 2020, which is up 0.1 percentage points from last month’s estimate. In 2021, they expect inflation to average 2.2%.
Norway - Inflation Data
|Inflation Rate (CPI, annual variation in %)||2.2||3.6||1.9||2.8||2.2|
5 years of economic forecasts for more than 30 economic indicators.
Norway Inflation Chart
Source: Statistics Norway and FocusEconomics calculations.
|Bond Yield||1.58||-0.65 %||Jan 01|
|Exchange Rate||8.78||-0.38 %||Jan 01|
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August 7, 2020
Industrial output fell 2.2% month-on-month in seasonally-adjusted terms in June, which was a larger contraction than May's 0.9% decrease.
July 10, 2020
Consumer prices rose 0.18% in June over the last month, stable from May's 0.18% rise.
July 8, 2020
Economic output grew 1.9% over the prior month in May in seasonally-adjusted terms, contrasting the 3.8% contraction in April and marking a rapid return to growth following two months of contracting output.
July 7, 2020
Industrial output declined 1.0% month-on-month in seasonally-adjusted terms in May, which followed April's 0.7% decrease.
June 18, 2020
At its monetary policy meeting on 18 June, the Executive Board of Norges Bank unanimously decided to hold the sight deposit rate at 0.00%.