Inflation in Norway

Norway Inflation | Economic News & Forecasts

Norway - Inflation

Inflation holds steady in July at close to the Central Bank’s target

Consumer prices jumped 0.7% in July, up from June’s 0.1% increase. The rise was primarily due to higher food and transport prices.

Inflation was stable at June’s 1.9% in July, remaining below the Norges Bank’s 2.0% target rate. Meanwhile, annual average inflation inched down to 2.9% in July from 3.0% in June.

Looking ahead, inflation is projected to remain close to the Norges Bank’s target range, kept in check by a base effect and a tighter monetary stance. However, robust economic activity and a tight labor market should prop up price pressures.

Norges Bank sees inflation averaging 2.2% in 2019 and 1.9% in 2020. FocusEconomics Consensus Forecast panelists project inflation to average 2.4% in 2019, which is unchanged from last month’s estimate, and 1.9% in 2020.

Norway - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)2.1  2.0  2.2  3.6  1.9  

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Norway Inflation Chart


Norway Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics Norway and FocusEconomics calculations.

Norway Facts

ValueChangeDate
Bond Yield1.13-0.65 %Sep 04
Exchange Rate9.03-0.38 %Sep 04
Stock Market859-0.08 %Sep 04

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