Norway Inflation Rate Steady at 3% in June

The annual consumer inflation rate in Norway stood at 3% in June 2025, unchanged from May and holding at its highest level since February. The main upward pressure came from higher inflation in transport (1.9% vs 0.9% in May), recreation and culture (4% vs 2.7%), restaurants and hotels (3.5% vs 3.1%), and miscellaneous goods and services (1.1% vs 0.9%). Meanwhile, inflation eased for food and non-alcoholic beverages (4.7% vs 5.3%), housing and utilities (4.2% vs 5.1%), and furnishings, household equipment, and maintenance (0.1% vs 0.7%). On a monthly basis, consumer prices rose by 0.2% in June, down from a 0.4% increase in May, marking the smallest gain in three months. The CPI adjusted for tax changes and excluding energy products (CPI-ATE) rose 3.1% year-on-year, exceeding market expectations of a 3% increase. This marked the highest reading in three months and accelerated from a 2.8% rise in May.