Inflation rate (consumer prices) · Norway
Norway Inflation Rate YoY Final
The Norway Inflation Rate YoY Final measures how much the prices that households in Norway pay for a typical basket of goods and services have risen over the past year.
- Importance
- Medium
- Currency
- NOK · Norwegian krone
- Central bank
- Norges Bank
Latest figures
The latest release for JUN, published on 15 July 2026, came in at 2.7%, down from 3.1% the time before.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 15 Jul 2026 | JUN | 2.7% | – | 3.1% |
Why it matters
Inflation is what Norges Bank is charged with controlling, so this is one of the most market-moving releases of the month. A figure above expectations makes rate hikes (or a longer wait for cuts) more likely, which usually lifts the Norwegian krone and bond yields; a soft figure does the reverse. It also drives wages, pensions and benefits that are linked to prices.
How it is calculated
Statistics Norway (SSB) collects many thousands of prices every month (food, rent, energy, transport, clothing, services) and weights them by how much households spend on each, from household surveys. The index compares the cost of the basket with a base year; the inflation rate is the change from the same month a year earlier.
CPI = Σ (price now ÷ base price) × weight × 100
Inflation (yoy) = CPI ÷ CPI 12 months ago − 1What changes mean
- Above the central bank's target (usually 2%) and rising: pressure for higher rates.
- Look at the core rate and services prices to see if the move is broad or driven by energy and food.
- Base effects: a big jump a year ago drops out of the yearly rate and can make it fall even if prices keep rising.
- Markets react to the difference from the consensus, often to a single decimal.
Higher than expected: A higher figure than expected makes Norges Bank more likely to keep rates high or raise them: it tends to support the Norwegian krone and push bond yields up, and is often a weight on stocks.
Lower than expected: A lower figure than expected gives Norges Bank room to cut or hold rates lower: the Norwegian krone tends to soften and bond yields to fall.
A short history
The United States began publishing a national consumer price index in 1919, the United Kingdom's index goes back to 1914. Inflation targeting, started by New Zealand in 1990, made this release the centre of monetary policy almost everywhere.
Questions
What is the Norway Inflation Rate YoY Final?
The Norway Inflation Rate YoY Final measures how much the prices that households in Norway pay for a typical basket of goods and services have risen over the past year.
What was the latest Norway Inflation Rate YoY Final?
2.7% for JUN, published on 15 July 2026.
What is a good inflation rate?
Most central banks, including Norges Bank in many cases, aim for about 2% a year: low enough not to erode savings, high enough to avoid deflation.
Why does the Norway Inflation Rate YoY Final move the Norwegian krone?
Because it changes what traders expect Norges Bank to do with the policy rate, and interest rates decide what holding the currency pays.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.