Norway Inflation Rate

Last Release

Feb 28, 2025

Actual

3.6

Units In

2.3

Frequency

Monthly

Next Release

Apr 10, 2025

Time to Release

29 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
18.9 Jun 1951	-1.8 Jan 2004	4.51 %	1950-2025	Statistics Norway

In Norway, the most important category in the consumer price index is Housing and Utilities (23 percent of total weight). Transport accounts for 16 percent; Food and Non-Alcoholic Beverages for 13 percent; Recreation and Culture for 12 percent; Miscellaneous Goods and Services for 9 percent and Furniture, Household Goods and Maintenance for 7 percent. Restaurants and Hotels; Clothing and Footwear; Alcoholic beverages and Tobacco; Health; Communication and Education account for the remaining 21 percent of total weight.

Latest Updates

The annual consumer inflation rate in Norway rose to 3.6% in February 2025 from 2.3% in the previous month, easily beating market expectations of 2.8%. This marked the highest reading since April 2024, as prices accelerated for food and non-alcoholic beverages (7.5% vs 5% in January), housing and utilities (5.1% vs 2%), and transport (1.7% vs 1.3%). In addition, costs increased at a faster pace for communications (5.2% vs 2.3%) and restaurants and hotels (3.9% vs 1.9%). On the other hand, prices moderated for alcoholic beverages and tobacco (4% vs 4.7%), health (5% vs 5.2%), and recreation and culture (2.8% vs 3%). On a monthly basis, the headline CPI climbed 1.4% from 0.2% in January. Meanwhile, the CPI adjusted for tax changes and excluding energy products (CPI-ATE) increased by 3.4% year-on-year and 1% month-on-month, compared to 2.8% and 0.1%, respectively, in the previous month. These figures suggest that the central bank may limit the decline in interest rates in 2025.