Inflation Norway 2016
Average inflation: 3.6%
Current Inflation
Inflation is high at 3.6%, well above the ECB target.
Peak and Trough
The highest inflation was in July at 4.4%. The lowest inflation was in January at 2.9%.
- Highest month
- July: 4.4%
- Lowest month
- January: 2.9%
- Difference
- 1.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Furnishings, household equipment and maintenance with an average of 5.3%. The lowest price increase was in Miscellaneous goods and services with an average of 2.0%.
- Highest increase
- Furnishings, household equipment and maintenance: 5.3%
- Lowest increase
- Miscellaneous goods and services: 2.0%
Historical Context
Current inflation is 1.5% higher than the 5-year average of 2.1%. This approaches the highest level since records began (3.8% in 2008).
- 5-year average
- 2.1%
- 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 2015, inflation has risen by +1.4 percentage point.
- Change vs. previous year
- +1.4 percentage points
- Largest monthly swing
- July: +2.6 percentage points
ECB Target
Inflation is 1.6% 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 €103.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2016
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2015 |
|---|---|---|
| January | 2.9% | +0.8 |
| February | 3.2% | +1.3 |
| March | 3.3% | +1.3 |
| April | 3.3% | +1.4 |
| May | 3.4% | +1.4 |
| June | 3.7% | +1.0 |
| July | 4.4% | +2.6 |
| August | 4.0% | +2.0 |
| September | 3.6% | +1.5 |
| October | 3.7% | +1.3 |
| November | 3.6% | +0.9 |
| December | 3.5% | +1.2 |
| Average | 3.6% |
Data source
Data from OECD. Last updated: 11/01/2026.