Inflation Norway 2002
Average inflation: 1.3%
Current Inflation
Inflation is low at 1.3%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in December at 2.7%. The lowest inflation was in May at 0.4%.
- Highest month
- December: 2.7%
- Lowest month
- May: 0.4%
- Difference
- 2.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 8.5%. The lowest price increase was in Clothing and footwear with an average of -5.5%.
- Highest increase
- Education: 8.5%
- Lowest increase
- Clothing and footwear: -5.5%
Historical Context
Current inflation is 1.2% lower than the 5-year average of 2.5%. This approaches the lowest level since records began (1.3% in 2002).
- 5-year average
- 2.5%
- 10-year average
- 2.5%
- All-time high (2000)
- 3.1%
- All-time low (2002)
- 1.3%
Trend
Inflation shows a downward trend. Compared to 2001, inflation has fallen by +1.7 percentage point.
- Change vs. previous year
- -1.7 percentage points
- Largest monthly swing
- May: -3.9 percentage points
ECB Target
Inflation is 0.7% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2002
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2001 |
|---|---|---|
| January | 1.4% | -1.8 |
| February | 0.8% | -2.8 |
| March | 0.9% | -2.8 |
| April | 0.6% | -3.3 |
| May | 0.4% | -3.9 |
| June | 0.4% | -3.3 |
| July | 1.6% | -1.2 |
| August | 1.3% | -1.4 |
| September | 1.4% | -0.8 |
| October | 1.8% | -0.4 |
| November | 2.2% | +0.5 |
| December | 2.7% | +0.6 |
| Average | 1.3% |
Data source
Data from OECD. Last updated: 11/01/2026.