Norway’s annual inflation rate fell sharply to 2.7% in February 2026, its lowest level since late April, down from 3.6% in January. The slowdown was driven mainly by weaker price growth in food and non-alcoholic beverages (3.3% vs 4.2% in January), housing, water, electricity, gas and other fuels (2.2% vs 4.3%), and transport (3.2% vs 4.4%). Price increases also eased for furnishings, household equipment and routine household maintenance (0.6% vs 1.7%), recreation, sport and culture (3.9% vs 4.3%), and restaurants and accommodation services (5.1% vs 5.8%).
By contrast, inflation accelerated in clothing and footwear (1.8% vs 0.7%), alcoholic beverages, tobacco and narcotics (3.0% vs 2.8%), and health (3.2% vs 2.7%). On a monthly basis, the CPI rose 0.6%, matching January’s pace and marking the largest monthly increase since last July. Meanwhile, the CPI-ATE, which excludes energy and tax effects, increased 3.0% year-on-year, down from a 3.4% rise in January.
