FX.co ★ Norway Inflation Picks Up to 3.3% in August

Norway’s annual inflation rate increased to a four-month high of 3.3% in August 2026, up from 3.0% in July and slightly above market expectations of 3.2%.

The acceleration in headline inflation was driven mainly by higher price growth 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%)
• Other goods and services (4.3% vs. -2.1%)

These increases were partly offset by slower inflation in several categories, including:

• Housing, water, electricity, gas and other fuels (3.9% vs. 4.6%)
• Transport (2.4% vs. 2.6%)
• 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%)
• Restaurants and accommodation services (5.5% vs. 5.7%)

On a monthly basis, consumer prices declined by 0.3% in August, following a 1.0% increase in July.

Meanwhile, the CPI-ATE index, which excludes energy prices and the effects of tax changes, rose 3.0% year-on-year, while decreasing 0.5% from the previous month.