Norway Core Inflation Rises to 3.4 Percent in May 2026
Norway's core inflation rose to 3.4% in May, exceeding forecasts. The data supports expectations for further interest rate hikes at the Norges Bank meeting.
Norway core inflation rose to 3.4% in May, exceeding the 3.2% expected by analysts in a Reuters poll. The data follows a 3.2% reading in April and surpasses the 3.3% level projected by Norges Bank. The unexpected increase supports expectations that interest rates could rise further this year to address persistent price pressures.
### Inflation Data Beats Forecasts Core inflation, which excludes energy prices and tax changes, climbed from 3.2% in April to 3.4% in May. Statistics Norway data showed the figure landed above the 3.2% consensus forecast, while Norges Bank had projected a 3.3% reading. The headline inflation rate, which includes energy costs and taxes, eased to 3.1% in May from 3.4% in April, matching analyst expectations.
