Inflation Norway 2003
Average inflation: 2.5%
Current Inflation
Inflation is normal at 2.5%, around the ECB target.
Peak and Trough
The highest inflation was in January at 5.0%. The lowest inflation was in December at 0.6%.
- Highest month
- January: 5.0%
- Lowest month
- December: 0.6%
- Difference
- 4.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Housing, water, electricity, gas and other fuels with an average of 8.7%. The lowest price increase was in Clothing and footwear with an average of -10.6%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 8.7%
- Lowest increase
- Clothing and footwear: -10.6%
Historical Context
Current inflation is around the 5-year average of 2.5%.
- 5-year average
- 2.5%
- 10-year average
- 2.5%
- All-time high (2000)
- 3.1%
- All-time low (2002)
- 1.3%
Trend
Inflation has remained relatively stable. Compared to 2002, the difference is minimal (+1.2 percentage point).
- Change vs. previous year
- +1.2 percentage points
- Largest monthly swing
- February: +4.2 percentage points
ECB Target
Inflation is 0.5% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 5.0% | +3.6 |
| February | 5.0% | +4.2 |
| March | 3.8% | +2.9 |
| April | 2.9% | +2.3 |
| May | 2.0% | +1.6 |
| June | 1.8% | +1.4 |
| July | 1.5% | -0.1 |
| August | 2.2% | +0.9 |
| September | 2.0% | +0.6 |
| October | 1.6% | -0.2 |
| November | 1.4% | -0.8 |
| December | 0.6% | -2.1 |
| Average | 2.5% |
Data source
Data from OECD. Last updated: 11/01/2026.