Inflation in Norway
Norway - Inflation (end of period)
Inflation ticks up in April
Consumer prices increased 0.45% in April, following March’s flat reading. The print was primarily due to higher prices for food and non-alcoholic beverages, and furniture and household operations.
Inflation edged up to 0.8% in April from 0.7% in March, consequently remaining below the Norges Bank’s 2.0% target rate. Meanwhile, average inflation ticked down from 1.7% in March to 1.5% in April.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.6% in 2020, which is from last month’s estimate. In 2021, they expect inflation to average 2.0%.
Norway - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||2.1||2.3||3.5||1.6||3.5|
5 years of economic forecasts for more than 30 economic indicators.
Norway Inflation (eop) 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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May 11, 2020
Consumer prices increased 0.45% in April, following March’s flat reading.
April 8, 2020
Consumer prices flat in March, following February’s 0.1% dip.
April 7, 2020
Industrial production increased a seasonally-adjusted 2.6% in February over the previous month, which was down from January’s upwardly revised 2.2% decline (previously reported: -2.3% month-on-month). February’s rise was driven by a strong rebound in the extraction and related services sector, which accounts for around 65% of industrial production in Norway.
April 7, 2020
Economic output expanded 0.6% over the prior month in February, accounting for seasonality, contrasting the 0.5% contraction in January.
March 27, 2020
On 20 March, after Norges Bank cut rates by an unprecedented 75 basis points, the krone ended the day at 12.57 per EUR, marking a record low.