Inflation in Norway
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
|Inflation Rate (CPI, annual variation in %)||2.1||2.0||2.2||3.6||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Norway Inflation Chart
Source: Statistics Norway and FocusEconomics calculations.
|Bond Yield||1.13||-0.65 %||Sep 04|
|Exchange Rate||9.03||-0.38 %||Sep 04|
|Stock Market||859||-0.08 %||Sep 04|
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August 15, 2019
The executive board of Norges Bank unanimously decided to keep the sight deposit rate unchanged at 1.25% at its monetary policy meeting on 15 August.
August 9, 2019
Consumer prices jumped 0.7% in July, up from June’s 0.1% increase.
August 8, 2019
Industrial production declined a seasonally-adjusted 1.4% in June from the previous month, contrasting May’s 0.6% increase.
July 10, 2019
Consumer prices ticked up 0.1% in June, contrasting the 0.3% decrease posted in May.
July 9, 2019
Economic output increased 0.4% in May compared to the previous month in seasonally-adjusted terms, up from April’s revised 0.3% increase (previously reported: +0.2% month-on-month).