Norway Inflation Picks Up to 3.3% in August

Norway’s annual inflation rate rose to a four-month high of 3.3% in August 2026 from 3.0% in July, coming in above expectations of 3.2%. Price growth mainly accelerated 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%), and other goods and services (4.3% vs. -2.1%). By contrast, price growth slowed for housing, water, electricity, gas and other fuels (3.9% vs. 4.6%), and transport (2.4% vs. 2.6%). Inflation also moderated for 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%), and restaurants and accommodation services (5.5% vs. 5.7%). On a monthly basis, consumer prices fell 0.3%, following a 1% jump in July. Meanwhile, the CPI-ATE, which excludes energy prices and tax changes, rose 3.0% year-on-year, while falling 0.5% month-on-month.

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