🇳🇴Norway inflation rate
released 19 Aug 2026 · data through July 2026 · next release expected 31 Aug 2026
Norway sits outside the euro area, with its own currency and central bank. Harmonised inflation (HICP) — the EU-harmonised measure that makes prices comparable across Europe — stands at 2.9% as of July 2026. That is 0.9 percentage points above Norges Bank's 2% target, and 0.1 points below the eurozone average of 3.0%.
The breakdown shows core (excluding energy and food) at 3.1%, energy at 4.4%, food at 1.6% and services at 3.7%. The strongest pressure is in energy (4.4%), while food is the softest (1.6%).
Month on month the headline rose from 2.6% to 2.9%, extending the climb.
Norway ranks number 17 of 30 European economies by annual inflation, from highest to lowest, between Italy and Germany.
Norway's harmonised inflation is 2.9% as of July 2026 — abovethe European Central Bank's 2% target by 0.9 percentage points.
Compare with the rest of Europe on the European inflation ranking →
Frequently asked questions
- What is Norway's current inflation rate?
- Norway's annual inflation rate, measured by the harmonised index of consumer prices (HICP), is 2.9% as of July 2026.
- Is Norway's inflation above or below Norges Bank's 2% target?
- At 2.9%, it is 0.9 percentage points above Norges Bank's 2% target.
- How does Norway's inflation compare with the rest of Europe?
- Norway ranks number 17 of 30 European economies by inflation, 0.1 points below the eurozone average of 3.0%.
- Did Norway's inflation rise or fall last month?
- Month on month, the headline rate rose from 2.6% to 2.9% in July 2026.