Inflation Norway 2020
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 January at 1.8%. The lowest inflation was in March at 0.7%.
- Highest month
- January: 1.8%
- Lowest month
- March: 0.7%
- Difference
- 1.1 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 6.9%. The lowest price increase was in Housing, water, electricity, gas and other fuels with an average of -3.5%.
- Highest increase
- Furnishings, household equipment and maintenance: 6.9%
- Lowest increase
- Housing, water, electricity, gas and other fuels: -3.5%
Historical Context
Current inflation is 1.1% lower than the 5-year average of 2.4%.
- 5-year average
- 2.4%
- 10-year average
- 2%
- All-time high (2008)
- 3.8%
- All-time low (2004)
- 0.5%
Trend
Inflation shows a downward trend. Compared to 2019, inflation has fallen by +0.9 percentage point.
- Change vs. previous year
- -0.9 percentage points
- Largest monthly swing
- March: -2.2 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 2020
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2019 |
|---|---|---|
| January | 1.8% | -1.3 |
| February | 0.9% | -2.1 |
| March | 0.7% | -2.2 |
| April | 0.8% | -2.1 |
| May | 1.3% | -1.2 |
| June | 1.4% | -0.5 |
| July | 1.3% | -0.6 |
| August | 1.7% | +0.1 |
| September | 1.6% | +0.1 |
| October | 1.7% | -0.1 |
| November | 0.7% | -0.9 |
| December | 1.4% | 0.0 |
| Average | 1.3% |
Data source
Data from OECD. Last updated: 11/01/2026.