Inflation Norway 2008
Average inflation: 3.8%
Current Inflation
Inflation is high at 3.8%, well above the ECB target.
Peak and Trough
The highest inflation was in October at 5.4%. The lowest inflation was in December at 2.2%.
- Highest month
- October: 5.4%
- Lowest month
- December: 2.2%
- Difference
- 3.2 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 6.8%. The lowest price increase was in Communication with an average of -4.8%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 6.8%
- Lowest increase
- Communication: -4.8%
Historical Context
Current inflation is 2.0% higher than the 5-year average of 1.8%. This approaches the highest level since records began (3.8% in 2008).
- 5-year average
- 1.8%
- 10-year average
- 2.1%
- All-time high (2008)
- 3.8%
- All-time low (2004)
- 0.5%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +3.1 percentage point.
- Change vs. previous year
- +3.1 percentage points
- Largest monthly swing
- September: +5.7 percentage points
ECB Target
Inflation is 1.8% 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 €103.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 3.6% | +2.4 |
| February | 3.8% | +3.1 |
| March | 3.2% | +2.1 |
| April | 3.2% | +3.0 |
| May | 3.1% | +2.7 |
| June | 3.4% | +3.0 |
| July | 4.3% | +3.8 |
| August | 4.5% | +4.1 |
| September | 5.3% | +5.7 |
| October | 5.4% | +5.6 |
| November | 3.1% | +1.6 |
| December | 2.2% | -0.6 |
| Average | 3.8% |
Data source
Data from OECD. Last updated: 11/01/2026.