Next release
Released monthlyJul 10, 2026 06:00 UTC
in 19 days
Latest result
The most recent Norway Inflation Rate (CPI) (Jun 10, 2026, May) printed 3.1% versus 3.2% expected (previous 3.4%) — below forecast, negative for the NOK.
What it measures
Norway's yearly inflation rate measures how much consumer prices have risen over the past twelve months. It is the headline cost-of-living number and the single most-watched domestic data point for the Norwegian krone. Because Norges Bank aims to keep inflation low and stable, this release shapes expectations for where Norwegian interest rates are heading.
Inflation is the main fuel for interest-rate expectations, and rate expectations are what move a currency like the krone. A reading that comes in hotter than expected pushes traders to price higher Norges Bank rates, which tends to lift the krone, while a cooler reading does the opposite. The krone is a relatively thinly traded currency, so a clear surprise here can produce an outsized move. Because Norway is an oil exporter, traders read this number alongside energy prices to judge how much room the central bank really has to act.
What a higher or lower Norway Inflation Rate (CPI) means for the NOK
A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the NOK.
Higher than forecast
An actual above the 3.2% forecast is typically bullish for the NOK.
Lower than forecast
An actual below the 3.2% forecast is typically bearish for the NOK.
Release history
Every release of Norway Inflation Rate (CPI): actual vs forecast and the beat/miss outcome. Click a date for the full read of that release.
Frequently asked questions
- What is Norway Inflation Rate (CPI)?
- Norway's yearly inflation rate measures how much consumer prices have risen over the past twelve months. It is the headline cost-of-living number and the single most-watched domestic data point for the Norwegian krone. Because Norges Bank aims to keep inflation low and stable, this release shapes expectations for where Norwegian interest rates are heading.
- What was the latest Norway Inflation Rate (CPI) reading?
- The most recent release (Jun 10, 2026, May) came in at 3.1%, versus a forecast of 3.2% and a previous 3.4% — below expectations.
- When is the next Norway Inflation Rate (CPI)?
- The next Norway Inflation Rate (CPI) is scheduled for Jul 10, 2026. It is released monthly.
- What happens to the NOK if Norway Inflation Rate (CPI) is higher than expected?
- An actual reading above the consensus forecast is typically bullish for the NOK, while a reading below forecast is bearish for the NOK. A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the NOK.
- How does Norway Inflation Rate (CPI) affect the NOK?
- Inflation is the main fuel for interest-rate expectations, and rate expectations are what move a currency like the krone. A reading that comes in hotter than expected pushes traders to price higher Norges Bank rates, which tends to lift the krone, while a cooler reading does the opposite. The krone is a relatively thinly traded currency, so a clear surprise here can produce an outsized move. Because Norway is an oil exporter, traders read this number alongside energy prices to judge how much room the central bank really has to act.