Inflation in Norway
Norway - Inflation
Inflation holds steady in April, above Norges Bank target for fifteenth month running
Consumer prices rose 0.4% in April compared to the previous month, up from 0.2% in March. This latest increase was due to higher prices for transport, communications, and recreation and culture. However, lower prices for food and non-alcoholic beverages, and housing, water, electricity, gas and other fuels weighed on the overall price gains.
Inflation was steady at March’s 2.9% in April, although it remained above Norges Bank’s 2.0% target rate for the fifteenth consecutive month. Meanwhile, annual average inflation ticked up to 3.1% from 3.0%.
Core consumer prices—which are adjusted for tax changes and exclude energy prices—rose 0.5% in April compared to the previous month, up from 0.3% in March. Core inflation dropped to 2.6% in April from 2.7% in March, but was still above market analysts’ expectations of 2.5%.
FocusEconomics Consensus Forecast panelists expect inflation to average higher than the Central Bank. In 2019, inflation is seen by our panel averaging 2.3%, which is up 0.1 percentage points from last month’s estimate. In 2020, our panelists see inflation averaging 1.9%.
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||1.65||-0.65 %||May 13|
|Exchange Rate||8.77||-0.38 %||May 13|
|Stock Market||861||-0.08 %||May 13|
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May 13, 2019
The economy shrank 0.1% in the first quarter of 2019 in seasonally-adjusted terms, contrasting the 0.6% growth in the fourth quarter of 2018.
May 10, 2019
Consumer prices rose 0.4% in April compared to the previous month, up from 0.2% in March.
May 9, 2019
Norges Bank kept the sight deposit rate unchanged at 1.00% at its monetary policy meeting on 9 May, as overwhelmingly expected by market analysts.
May 8, 2019
Industrial production fell a seasonally-adjusted 1.4% in March compared to the previous month, less than the 1.8% fall in February, according to Statistics Norway.
April 10, 2019
Consumer prices rose 0.2% in March compared to the previous month, down from the 0.8% increase in February.