10.07.202606:25:12UTC+00Norway Inflation Rate Hits 4-Month Low

Norway’s annual inflation rate slowed to 2.7% in June 2026 from 3.1% in May, coming in well below market expectations of 3.2%. This was the lowest rate since February, as price growth weakened across most major categories. The deceleration was particularly notable in food and non-alcoholic beverages (2.3% vs 3.4% in May) and transport (1.7% vs 2.6%). Inflation also eased for alcoholic beverages and tobacco (2.8% vs 3.0%), health (3.8% vs 4.1%), information and communication (1.8% vs 5.7%), recreation, sport and culture (3.0% vs 3.8%), and restaurants and accommodation services (6.0% vs 6.2%).

In contrast, price growth picked up in housing and utilities (3.4% vs 2.8%) and in clothing and footwear (2.6% vs 1.8%). On a monthly basis, the consumer price index (CPI) fell 0.2%, reversing a 0.2% increase in May and surprising markets that had anticipated a 0.3% rise. Meanwhile, the CPI-ATE—an underlying inflation measure that excludes energy prices and the effects of tax changes—was unchanged at 3.4% year-on-year, remaining at its highest level since January.