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. source: Statistics Norway

Inflation Rate in Norway increased to 3.60 percent in February from 2.30 percent in January of 2025. Inflation Rate in Norway averaged 4.51 percent from 1950 until 2025, 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 March of 2025.

Inflation Rate in Norway increased to 3.60 percent in February from 2.30 percent in January of 2025. Inflation Rate in Norway is expected to be 2.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Inflation Rate is projected to trend around 2.30 percent in 2026 and 2.10 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-02-10 07:00 AM
Inflation Rate YoY
Jan 2.3% 2.2% 2.0%
2025-03-10 07:00 AM
Inflation Rate YoY
Feb 3.6% 2.3% 2.8% 2.7%
2025-04-10 06:00 AM
Inflation Rate YoY
Mar 3.6% 2.6%

Components Last Previous Unit Reference
Food Inflation 7.50 5.00 percent Feb 2025

Related Last Previous Unit Reference
CPI 137.00 135.10 points Feb 2025
Core Consumer Prices 132.60 131.30 points Feb 2025
Core Inflation Rate YoY 3.40 2.80 percent Feb 2025
CPI Housing Utilities 143.10 139.80 points Feb 2025
CPI Transportation 139.20 136.40 points Feb 2025
Export Prices 313.20 292.20 points Dec 2024
GDP Deflator 90.00 88.30 points Dec 2024
Harmonised Consumer Prices 136.40 136.40 points Jan 2025
Import Prices 212.70 204.30 points Dec 2024
Inflation Rate YoY 3.60 2.30 percent Feb 2025
Inflation Rate MoM 1.40 0.20 percent Feb 2025
Producer Prices 134.50 132.20 points Feb 2025
PPI YoY 23.30 18.10 percent Feb 2025

Norway Inflation Rate
In Norway, the most important category in the Consumer Price Index is Housing & Utilities (24.62% of the total weight). Transport accounts for 14.97%, Food & Non-alcoholic Beverages for 12.86%, Recreation & Culture for 10.79%, and Miscellaneous Goods & Services for 8.72%. The index also includes: Furnishings, Household Equipment & Routine Maintenance (6.89%), Clothing & Footwear (5.09%), Alcoholic Beverages & Tobacco (4.2%), Health (3.39%), Communication (2.37%), and Education (0.49%).
Actual Previous Highest Lowest Dates Unit Frequency
3.60 2.30 18.90 -1.80 1950 - 2025 percent Monthly
2015=100


News Stream
Norway Inflation Rate Rises to 10-Month High
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.
2025-03-10
Norway Inflation Rate Edges Up to 2.3%
The annual consumer inflation rate in Norway edged up to 2.3% in January 2025, slightly above December's four-year low of 2.2% and the central bank’s 2% target. The uptick was driven by faster price growth in key categories, including food and non-alcoholic beverages (5% vs. 4% in December), housing, water, electricity, gas, and other fuels (2% vs. 1.9%), and transport (1.3% vs. 1.1%). Inflation also rose for furnishings, household equipment, and routine maintenance (1.1% vs. 0.5%) and health (5.2% vs. 4.9%). In contrast, the main downward pressure came from a sharp decline in clothing and footwear costs (-1.2% vs. 0.2%). Meanwhile, the CPI adjusted for tax changes and excluding energy products (CPI-ATE) increased by 2.8% year-on-year and 0.1% month-on-month, compared to 2.7% and a 0.1% decline in December, respectively. On a monthly basis, the headline CPI rose 0.2%, following a 0.1% drop in the prior period.
2025-02-10
Norway Inflation Rate Falls to 4-Year Low
The annual consumer inflation rate in Norway fell to 2.2% in December 2024, the lowest level since December 2020, down from 2.4% in November. The reading also missed forecasts of 2.5% and is approaching the central bank’s 2% target. The main downward pressure came from lower inflation in food and non-alcoholic beverages (4% vs. 4.2% in November) and housing and utilities (1.9% vs. 2.1%). Additionally, there was a significant easing in costs for furnishings, household equipment, and routine maintenance (0.5% vs. 2.5%) as well as recreation and culture (3.1% vs. 4.3%). Meanwhile, the CPI adjusted for tax changes and excluding energy products (CPI-ATE) rose by 2.7% year-on-year in December, slowing from a 3% increase in November. On a monthly basis, the CPI declined by 0.1%, defying expectations of a 0.1% rise and following a 0.3% increase in November. For the full year, the headline inflation rate averaged 3.1%, the lowest in four years.
2025-01-10