FX.co ★ Norway Producer Inflation Picks Up in July

Norway’s producer prices rose 23.4% year-on-year in July 2026, accelerating from a four-month low of 14.9% in June. The upturn was largely driven by a strong rebound in energy-related prices: costs for the extraction of oil and natural gas jumped to 38.2% from 15.2% in the previous month, while inflation for energy goods climbed to 39.8% from 23.9%.

By contrast, price growth slowed in manufacturing, easing to 6.4% from 8.6%, and in electricity, gas, and steam, where inflation moderated to 41.0% from 68.8%. Excluding energy goods, producer price inflation was unchanged at 5.3%, pointing to more contained underlying price pressures.

On a monthly basis, producer prices advanced 8.9% in July, rebounding sharply from a 7.1% decline in June.