Norway’s annual inflation rate increased to a four-month high of 3.3% in August 2026, up from 3.0% in July and slightly above market expectations of 3.2%.
The acceleration in headline inflation was driven mainly by higher price growth for:
- Food and non-alcoholic beverages (1.6% vs. 1.1% in July)
- Furnishings and household equipment (1.5% vs. 0.5%)
- Information and communication (3.2% vs. 1.4%)
- Other goods and services (4.3% vs. -2.1%)
These increases were partly offset by slower inflation in several categories, including:
- Housing, water, electricity, gas and other fuels (3.9% vs. 4.6%)
- Transport (2.4% vs. 2.6%)
- Clothing and footwear (2.2% vs. 2.9%)
- Alcoholic beverages and tobacco (2.4% vs. 2.6%)
- Recreation, sport and culture (3.8% vs. 4.3%)
- Restaurants and accommodation services (5.5% vs. 5.7%)
On a monthly basis, consumer prices declined by 0.3% in August, following a 1.0% increase in July.
Meanwhile, the CPI-ATE index, which excludes energy prices and the effects of tax changes, rose 3.0% year-on-year, while decreasing 0.5% from the previous month.
