November in the wallets of Norway's residents. We know how prices have changed by the fjords
The Consumer Price Index rose by 3.0 percent between November 2024 and November 2025. A marked drop in food and non-alcoholic beverage prices limited the pace of growth, even though more expensive energy pushed in the opposite direction. The inflation rate calculated without energy prices and tax changes also amounted to 3.0 percent.
Energy has become the main factor stabilizing overall inflation.
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The data was published on December 10, 2025, by Statistics Norway (SSB). Food prices fell by 1.0 percent month-on-month, and non-alcoholic beverages by 1.3 percent. Such reductions are rarely observed in November.
A year earlier, prices in the same group had risen by 0.4 percent, which now resulted in a sharp drop in the annual rate—from 6.2 percent in October to 4.7 percent in November. The biggest price drops were seen in fruit and vegetables: by 4.1 percent and 3.7 percent, respectively. Broad promotional campaigns also contributed to the price declines.
A year earlier, prices in the same group had risen by 0.4 percent, which now resulted in a sharp drop in the annual rate—from 6.2 percent in October to 4.7 percent in November. The biggest price drops were seen in fruit and vegetables: by 4.1 percent and 3.7 percent, respectively. Broad promotional campaigns also contributed to the price declines.
Big promotions and falling electronics prices
Electronics and home furnishings prices also dropped significantly. Audiovisual, photographic, and computer equipment became 5.7 percent cheaper in November, marking the largest monthly price drop in the history of this category. Sales had a strong impact on the result, as did price reductions on furniture and household goods, which fell by 1.3 percent compared to October.
As a result, the annual rate of electronics price growth decreased from 3.2 percent to minus 0.5 percent. The inflation rate calculated excluding energy prices slowed down precisely because of these categories.
As a result, the annual rate of electronics price growth decreased from 3.2 percent to minus 0.5 percent. The inflation rate calculated excluding energy prices slowed down precisely because of these categories.
Food price drops in November are unusual for this month.Photo: fotolia.com
Rising energy prices stabilize inflation
Energy prices moved in the opposite direction. The cost of electricity, including transmission fees, rose by 10.9 percent month-on-month and was 5.3 percent higher than a year earlier. The strongest increases were recorded in northern and central Norway.
In southern Norway, the increases were smaller thanks to support programs for households. Thus, electricity prices became the main factor stabilizing the overall inflation rate.
In southern Norway, the increases were smaller thanks to support programs for households. Thus, electricity prices became the main factor stabilizing the overall inflation rate.
Methodological changes in 2026
In 2026, the method of calculating the Consumer Price Index will be updated. Starting with the January reading, a new classification of consumer spending and new base values will be introduced, with 2025 becoming the reference year with a value of 100.
According to SSB, the changes are intended to better reflect the current spending patterns of the country's residents. As a result, future readings are expected to be more closely aligned with real market changes.
According to SSB, the changes are intended to better reflect the current spending patterns of the country's residents. As a result, future readings are expected to be more closely aligned with real market changes.
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