FX.co ★ Norway’s CPI Turns Negative in August, Marking Sharp Month‑on‑Month Reversal

Norway’s consumer price index (CPI) slipped into negative territory in August 2026, with month‑on‑month inflation coming in at -0.3%, according to data updated on 10 September 2026. The move marks a sharp turnaround from July 2026, when CPI rose 1.0% compared with June.

The August reading means that prices, on average, declined compared with the previous month, reversing the strong upward momentum seen in July. On a month‑over‑month basis, the “actual” figure for August measures the change in prices from July, while the “previous” figure reflected July’s change relative to June. The shift from a 1.0% increase to a 0.3% decline underscores increased short‑term price volatility in the Norwegian economy and will be closely watched by market participants assessing the near‑term inflation trajectory and potential policy implications.