Norway: Inflation eases in February from the prior month
Latest reading: Consumer prices were up 2.7% on a year-on-year basis in February, following a 3.6% increase in the previous month. February’s reading was the weakest since April 2025.
Relative to the previous month’s figures, there were reduced price pressures for housing and utilities (+2.2% on a year-on-year basis vs +4.3% in January), transportation (+3.2% vs +4.4% in January) and food and non-alcoholic beverages (+3.3% vs +4.2% in January). In contrast, price pressures were higher for clothing and footwear in February (+1.8% vs +0.7% in January).
Meanwhile, core consumer prices—Norges Bank’s preferred gauge of price pressures—increased 3.0% in annual terms in February, following a 3.4% increase in the prior month.
Finally, consumer prices were up 0.59% in February in month-on-month terms, stable from the prior month’s reading.