FX.co ★ Norway Inflation Rate Steady at 3% in June

In June 2025, Norway's annual consumer inflation rate remained steady at 3%, consistent with the rate in May, maintaining its peak since February. The primary factors contributing to this inflationary pressure were increased costs in several sectors: transport saw inflation climb to 1.9% from May’s 0.9%; recreation and culture rose to 4% from 2.7%; restaurants and hotels grew to 3.5% from 3.1%; and miscellaneous goods and services ascended to 1.1% from 0.9%. Conversely, there was a reduction in inflation for food and non-alcoholic beverages, which fell to 4.7% from 5.3%; housing and utilities, which decreased to 4.2% from 5.1%; and furnishings, household equipment, and maintenance, which dropped to 0.1% from 0.7%. On a monthly scale, consumer prices experienced a modest increase of 0.2% in June, down from the 0.4% rise observed in May, representing the smallest growth in three months. The Consumer Price Index adjusted for tax changes and excluding energy products (CPI-ATE) experienced a year-on-year increase of 3.1%, surpassing market predictions of a 3% rise, marking the highest level in three months, and an uptick from May's 2.8% increase.