Norway Inflation Rate Climbs to 5-Month High

The annual consumer inflation rate in Norway climbed to 3.3% in July 2025, the highest since February, up from 3.0% in June. The main upward pressure came from food and non-alcoholic beverages, which surged to a four-month high of 5.9% in July, up from 4.7% in June. Transport inflation also increased to 2.4% from 1.9%. Price growth accelerated in several other categories, including housing and utilities (4.4% vs. 4.2%), furnishings, household equipment, and routine maintenance (1.0% vs. 0.1%), restaurants and hotels (3.9% vs. 3.5%), and miscellaneous goods and services (1.5% vs. 1.1%). On a monthly basis, consumer prices jumped 0.8% in July, the largest increase since February, following a 0.2% gain previously. The CPI adjusted for tax changes and excluding energy products (CPI-ATE) rose 3.1% year-on-year, matching June’s pace and maintaining its highest growth in three periods.