FX.co ★ Norway Producer Inflation Accelerates Further

Producer prices in Norway jumped 48.8% year-on-year in September 2026, accelerating from a 30.1% increase in August and reaching their highest level in four years. The surge was driven primarily by sharp price gains in oil and natural gas extraction (94.6% vs. 52.1% in August), energy goods (90.1% vs. 53.2%), and electricity, gas, and steam (63.4% vs. 57.9%), amid supply disruptions in the Middle East. Manufacturing prices also rose (9.2% vs. 7.9%).

Excluding energy goods, producer prices increased 6.7% year-on-year, compared with 5.4% in the previous month. By market, the price rise was significantly stronger in the export market (70.4% vs. 41.4%) than in the domestic market (15.9% vs. 11.9%). On a monthly basis, producer prices climbed 12.4% in September, the largest increase since March, following a 4.7% advance in August.