Norway's annual inflation rate increased to 1.4 percent in December 2020 from 0.7 percent in the previous month and beating market expectations of 1.2 percent. Prices rose faster for: transport (1.1 percent vs 0.1 percent in November), furnishings, household equipment & routine maintenance (8.0 percent vs 7.1 percent) and recreation & culture (3.8 percent vs 3.6 percent). Meanwhile food & non-alcoholic beverages inflation eased to a five-month low of 2.8 percent in December from 3.5 percent in November. In addition, prices of housing & utilities dropped softer (-2.5 percent vs -4.6 percent). The CPI adjusted for tax changes and excluding energy products increased to 3.0 percent in December from a seven-month low of 2.9 percent in November, but below market expectations of a 3.1 percent growth. On a monthly basis, consumer prices were up 0.4 percent, while the core index edged down 0.1 percent. source: Statistics Norway
Inflation Rate in Norway averaged 4.52 percent from 1950 until 2020, reaching an all time high of 18.90 percent in June of 1951 and a record low of -1.80 percent in January of 2004. This page provides - Norway Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Inflation Rate in Norway is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Norway to stand at 2.80 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.