FX.co ★ Norway Producer Prices Drop 3% in August

Norway saw a significant 3.0% year-on-year decline in producer prices for August 2025, a more pronounced decrease compared to the 0.3% fall recorded the month prior. This represented the sharpest drop in producer prices since October 2024. The main contributors to this decline were the extraction of oil and natural gas, with prices decreasing by 13.0% following a 6.1% decline in July, and energy goods, which experienced a steeper drop of 9.1% compared to the 4.2% decrease a month earlier. Conversely, certain sectors faced increased price pressures; notably, prices for electricity, gas, and steam saw a substantial rise, accelerating to 40.1% from the previous 23.6%. Meanwhile, manufacturing experienced a slight moderation in its price growth, slowing to 1.7% from 2.0%. When energy goods are excluded, the overall producer price inflation slightly eased to 2.7% in August, down from 2.9% in July, indicating a more subdued underlying trend across the broader economy. On a month-to-month basis, the overall Producer Price Index (PPI) declined by 0.9%, following a 0.8% increase in July.