FX.co ★ Norway Producer Prices Drop the Most in 19 Months

In October 2025, Norway saw a substantial annual decline in producer prices, dropping by 6.9%, following a 2.8% decrease in September. This represents the sixth consecutive month of declines and is the most significant drop since March 2024. The decline was primarily driven by sharper drops in prices for oil and natural gas extraction, which plummeted by 19.7% after a 12.2% decline in the previous month, and energy goods, which fell by 15.0%, compared to a 7.9% decrease in September. Conversely, there were increases in manufacturing prices, which rose by 1.9% compared to 1.3% previously, and in electricity, gas, and steam prices, which increased by 28.9%, though this was down from 38.0%. Excluding energy goods, the overall producer price inflation eased to 1.0% in October from 1.3% in September. On a month-over-month basis, the total Producer Price Index (PPI) edged up by 0.1%, marking a slight recovery from the previous month's 1.7% decline.