Price Increase in Norway. Inflation Exists but is Slowing Down
The Central Bureau of Statistics has published new data on inflation in Norway. According to the report, in March 2025, the price increase halted at 2.6 percent. On a monthly basis, it slowed down mainly due to a significant drop in electricity usage costs.
Food prices over the fjords continue to rise.
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The main factor influencing the drop in inflation was lower electricity prices, which decreased by 17 percent in March compared to February. Compared to March 2024, costs were 12.4 percent lower. The decrease resulted from milder weather conditions and lower energy consumption.
The consumer price index excluding taxes and energy (CPI-JAE) rose by 3.4 percent over the last 12 months, remaining at the same level as in February. The increase is partly due to rising food prices, which increased by 8.6 percent compared to March 2024.
The consumer price index excluding taxes and energy (CPI-JAE) rose by 3.4 percent over the last 12 months, remaining at the same level as in February. The increase is partly due to rising food prices, which increased by 8.6 percent compared to March 2024.
CPI and CPI-JAE index over the past two years.Illustration: SSB
Food Deals the Cards
Although food and beverage prices decreased by one percent from February to March, the drop was smaller than in the same period last year. This may be related to the later date of Easter in 2025, which affected the delay of promotions and special offers in March.
Among food products, price drops were noted for lamb meat and ready meals, while prices for coffee and potatoes, among others, increased.
Among food products, price drops were noted for lamb meat and ready meals, while prices for coffee and potatoes, among others, increased.
The SSB report once again points to two main factors driving inflation. Unchanged, they include electricity and food. Everything indicates that both elements will be (alongside the Norwegian krone exchange rate) the main actors in determining the CPI index for April 2025.
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