Norway's annual inflation rate dropped to 0.7 percent in November 2020 from 1.7 percent in the previous month and far below market expectations of 1.8 percent. It was the lowest inflation rate since March, as transport prices rose much less (0.1 percent vs 1.6 percent), while food & non-alcoholic beverages inflation slowed to a four-month low of 3.5 percent in November from 4.2 percent in October. Also, prices increased softer for both furnishings, household equipment & routine maintenance (7.1 percent vs 9.4 percent) and recreation & culture (3.6 percent vs 4.3 percent). In addition, prices of housing & utilities dropped faster (-4.6 percent vs -2.9 percent). The CPI adjusted for tax changes and excluding energy products declined to a seven-month low of 2.9 percent in November from 3.4 percent in October, below market expectations of a 3.4 percent growth. On a monthly basis, consumer prices were down 0.7 percent, while the core index dropped 0.4 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 December of 2020.
Inflation Rate in Norway is expected to be 1.70 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 2.70 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 2.80 percent in 2021 and 2.00 percent in 2022, according to our econometric models.