Inflation eases in November from the prior month

Latest reading: Consumer prices were up 3.0% on a year-on-year basis in November, following a 3.1% rise in the previous month. November's reading was the weakest since April 2025. Relative to the previous month's figures, there were reduced price pressures for transportation (+2.2% in annual terms vs +3.0% in October) and food and non-alcoholic beverages (+4.7% vs +6.2% in October). In contrast, price pressures were higher for housing and utilities in November (+3.7% vs +3.1% in October). Finally, the variation in clothing and footwear prices was the same as in the prior month (-1.5% in November and October). Meanwhile, core consumer prices—Norges Bank’s preferred gauge of price pressures—rose 3.0% on a year-on-year basis in November, following a 3.4% rise in the prior month. Lastly, consumer prices were up 0.14% in November in month-on-month terms, stable from the previous month's reading.

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