Norway Inflation Rate (CPI YoY %) - Historical Data
Year-on-year percentage change in the headline Consumer Price Index (CPI) for Norway from 1914 to 2026, compiled from the BIS Long Consumer Prices archive (WS_LONG_CPI). The latest inflation rate is 3.29% (Aug 2026) compared with the Norges Bank official target of 2.0% Operational Target.
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Current Statistics & Historical Records
Latest Reading (Aug 2026)
3.29%
Prev (Jul 2026): 2.98%+0.31 pp
Highest Recorded (1918)
40.00%
Peak consumer price inflation rate in Norway (Norges Bank mandate: 2.0% Operational Target).
Lowest Recorded (Dec 1921)
-20.93%
Lowest recorded CPI inflation / deflation reading in Norway.
Long-Run Mean (1914–2026)
4.12%
113 annual observations · Monthly
Norges Bank · NOK
Norway Inflation Rate (CPI YoY %) (1914-2026)
% YoYDrag to pan, scroll to zoom, or toggle between full archive (1914–2026) and recent monthly observations.
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Source: Bank for International Settlements (BIS) & National Statistical Office (WS_LONG_CPI:M:NO:771)
Latest: 3.29% (Aug 2026)
Norway Inflation Rate Averages by Decade
Decadal mean, peak, and trough across the 1914–2026 archive
| Decade | Years Covered | Decade Mean | Decade High (Year) | Decade Low (Year) |
|---|---|---|---|---|
| 1910s | 1914–1919 | 17.79% | 40.00% (1918) | 0.00% (1914) |
| 1920s | 1920–1929 | -4.16% | 14.93% (1920) | -16.07% (1922) |
| 1930s | 1930–1939 | 0.63% | 6.35% (1937) | -6.49% (1931) |
| 1940s | 1940–1949 | 4.89% | 18.03% (1941) | -0.45% (1948) |
| 1950s | 1950–1959 | 5.15% | 16.47% (1951) | 0.85% (1955) |
| 1960s | 1960–1969 | 3.48% | 6.29% (1964) | 0.14% (1960) |
| 1970s | 1970–1979 | 8.40% | 11.61% (1975) | 4.89% (1979) |
| 1980s | 1980–1989 | 8.34% | 13.66% (1981) | 4.62% (1989) |
| 1990s | 1990–1999 | 2.44% | 4.07% (1990) | 1.26% (1996) |
| 2000s | 2000–2009 | 2.09% | 3.75% (2008) | 0.47% (2004) |
| 2010s | 2010–2019 | 2.11% | 3.54% (2016) | 0.69% (2012) |
| 2020s | 2020–2026 | 3.64% | 5.76% (2022) | 1.30% (2020) |
Complete Annual Historical Ledger (1914–2026)
Unit: % YoY · Source: Bank for International Settlements (BIS) & National Statistical Office (WS_LONG_CPI:M:NO:771)
| Year | Annual Value (% YoY) | Intra-Year Range (Min – Max) | Monetary Regime & Historical Context |
|---|---|---|---|
| 2026 | 3.18% | 2.70% – 3.64% | - |
| 2025 | 3.04% | 2.29% – 3.60% | Post-tightening monetary recalibration across advanced and emerging central banks |
| 2024 | 3.19% | 2.30% – 4.81% | G10 policy rates peak and pivot toward gradual monetary normalization |
| 2023 | 5.52% | 3.40% – 7.02% | - |
| 2022 | 5.76% | 3.26% – 7.52% | Global inflation surge triggers fastest synchronized rate hiking cycle in four decades |
| 2021 | 3.47% | 2.48% – 5.24% | - |
| 2020 | 1.30% | 0.74% – 1.76% | COVID-19 pandemic emergency rate cuts and record balance sheet expansion |
| 2019 | 2.18% | 1.38% – 3.12% | - |
| 2018 | 2.74% | 1.72% – 3.51% | - |
| 2017 | 1.91% | 1.05% – 2.71% | - |
| 2016 | 3.54% | 2.93% – 4.40% | Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing |
| 2015 | 2.15% | 1.82% – 2.79% | - |
| 2014 | 2.06% | 1.72% – 2.33% | ECB and European peers introduce Negative Interest Rate Policy (NIRP) |
| 2013 | 2.13% | 0.88% – 3.26% | - |
| 2012 | 0.69% | 0.29% – 1.33% | - |
| 2011 | 1.31% | 0.15% – 1.97% | European Sovereign Debt Crisis and Swiss franc safe-haven surge |
| 2010 | 2.41% | 1.83% – 3.39% | - |
| 2009 | 2.17% | 0.61% – 3.47% | - |
| 2008 | 3.75% | 2.05% – 5.51% | Global Financial Crisis drives major central banks to the zero lower bound and QE1 |
| 2007 | 0.77% | -0.32% – 2.93% | - |
| 2006 | 2.30% | 1.69% – 2.68% | - |
| 2005 | 1.51% | 0.85% – 2.03% | - |
| 2004 | 0.47% | -1.85% – 1.38% | - |
| 2003 | 2.52% | 0.69% – 5.12% | - |
| 2002 | 1.30% | 0.35% – 2.83% | - |
| 2001 | 2.99% | 1.81% – 4.21% | Dot-com bust and synchronized G10 monetary easing cycle |
| 2000 | 3.11% | 2.64% – 3.60% | - |
| 1999 | 2.34% | 1.92% – 2.87% | Launch of the Euro and establishment of the European Central Bank (ECB) |
| 1998 | 2.28% | 1.98% – 2.56% | - |
| 1997 | 2.54% | 2.20% – 3.27% | Asian Financial Crisis triggers emergency EM currency defense hikes |
| 1996 | 1.26% | 0.61% – 1.83% | - |
| 1995 | 2.45% | 2.08% – 2.74% | - |
| 1994 | 1.42% | 0.85% – 1.91% | Global bond market selloff and pre-emptive Federal Reserve tightening cycle |
| 1993 | 2.27% | 1.72% – 2.65% | - |
| 1992 | 2.35% | 1.99% – 2.68% | European Exchange Rate Mechanism (ERM) crisis and Black Wednesday |
| 1991 | 3.44% | 2.49% – 4.24% | - |
| 1990 | 4.07% | 3.57% – 4.60% | German reunification tightening and Japanese asset bubble peak |
| 1989 | 4.62% | 4.20% – 5.15% | - |
| 1988 | 6.59% | 5.47% – 7.03% | - |
| 1987 | 8.84% | 7.56% – 10.45% | Louvre Accord and Black Monday central bank liquidity provision |
| 1986 | 7.14% | 5.64% – 8.84% | - |
| 1985 | 5.67% | 5.30% – 5.92% | Plaza Accord coordinated G5 currency intervention depreciates USD |
| 1984 | 6.24% | 5.80% – 6.74% | - |
| 1983 | 8.43% | 6.93% – 10.32% | - |
| 1982 | 11.44% | 10.55% – 12.00% | - |
| 1981 | 13.66% | 11.87% – 14.80% | Volcker disinflation peak pushes benchmark policy rates to postwar highs |
| 1980 | 10.73% | 6.52% – 13.47% | - |
| 1979 | 4.89% | 3.83% – 5.75% | Second oil shock; Paul Volcker appointed Federal Reserve Chair |
| 1978 | 8.15% | 7.23% – 9.43% | - |
| 1977 | 9.09% | 8.50% – 9.68% | - |
| 1976 | 9.17% | 7.64% – 10.29% | - |
| 1975 | 11.61% | 10.57% – 12.80% | - |
| 1974 | 9.49% | 8.70% – 10.53% | First OPEC oil shock triggers global stagflation and steep policy rate hikes |
| 1973 | 7.38% | 6.48% – 8.26% | - |
| 1972 | 7.14% | 6.12% – 8.08% | - |
| 1971 | 6.27% | 5.15% – 7.78% | Nixon Shock suspends USD gold convertibility; Bretton Woods system ends |
| 1970 | 10.78% | 8.43% – 14.12% | - |
| 1969 | 2.96% | 2.41% – 3.70% | - |
| 1968 | 3.60% | 2.50% – 5.19% | - |
| 1967 | 4.41% | 3.90% – 5.33% | - |
| 1966 | 3.30% | 2.70% – 5.48% | Credit crunch of 1966 and monetary tightening |
| 1965 | 3.80% | 2.78% – 5.80% | - |
| 1964 | 6.29% | 2.99% – 9.09% | - |
| 1963 | 2.86% | 0.00% – 4.76% | - |
| 1962 | 4.89% | 3.17% – 6.56% | - |
| 1961 | 2.50% | 0.00% – 5.00% | - |
| 1960 | 0.14% | 0.00% – 1.69% | - |
| 1959 | 1.88% | 0.00% – 5.26% | - |
| 1958 | 5.37% | 1.79% – 7.14% | Eisenhower recession and global monetary easing |
| 1957 | 2.64% | 0.00% – 5.77% | - |
| 1956 | 4.65% | 0.00% – 7.69% | - |
| 1955 | 0.85% | -1.89% – 4.00% | - |
| 1954 | 4.03% | 2.00% – 6.00% | Post-Korean War Federal Reserve policy rate normalization |
| 1953 | 1.91% | 0.00% – 4.26% | - |
| 1952 | 8.67% | 4.26% – 14.29% | - |
| 1951 | 16.47% | 12.20% – 21.05% | - |
| 1950 | 4.99% | 2.70% – 10.81% | - |
| 1949 | 0.48% | -2.70% – 2.78% | - |
| 1948 | -0.45% | -2.70% – 0.00% | - |
| 1947 | 0.49% | -2.70% – 2.78% | - |
| 1946 | 2.10% | 0.00% – 2.86% | - |
| 1945 | 2.15% | 0.00% – 2.86% | - |
| 1944 | 0.24% | 0.00% – 2.94% | - |
| 1943 | 3.21% | 2.94% – 6.06% | - |
| 1942 | 5.51% | 3.03% – 9.68% | - |
| 1941 | 18.03% | 10.00% – 29.17% | - |
| 1940 | 17.15% | 4.35% – 26.09% | - |
| 1939 | 1.09% | 0.00% – 4.35% | - |
| 1938 | 3.10% | 0.00% – 9.52% | - |
| 1937 | 6.35% | 0.00% – 9.52% | - |
| 1936 | 4.17% | 0.00% – 5.00% | - |
| 1935 | 0.83% | 0.00% – 5.00% | - |
| 1934 | 0.00% | 0.00% – 0.00% | - |
| 1933 | 0.00% | 0.00% – 0.00% | - |
| 1932 | -1.59% | -4.76% – 0.00% | - |
| 1931 | -6.49% | -9.09% – -4.55% | - |
| 1930 | -1.14% | -4.55% – 0.00% | - |
| 1929 | -5.34% | -8.33% – -4.35% | - |
| 1928 | -6.98% | -8.00% – -4.00% | - |
| 1927 | -10.43% | -13.79% – -7.41% | - |
| 1926 | -14.87% | -17.65% – -10.00% | - |
| 1925 | 2.68% | -11.76% – 13.33% | - |
| 1924 | 9.66% | 3.45% – 13.79% | - |
| 1923 | -6.21% | -14.71% – 3.45% | - |
| 1922 | -16.07% | -19.05% – -13.89% | - |
| 1921 | -9.01% | -20.93% – 2.70% | - |
| 1920 | 14.93% | 14.93% – 14.93% | - |
| 1919 | 6.35% | 6.35% – 6.35% | - |
| 1918 | 40.00% | 40.00% – 40.00% | - |
| 1917 | 25.00% | 25.00% – 25.00% | - |
| 1916 | 20.00% | 20.00% – 20.00% | - |
| 1915 | 15.38% | 15.38% – 15.38% | - |
| 1914 | 0.00% | 0.00% – 0.00% | - |
Frequently Asked Questions - Norway Inflation Rate
What is the current inflation rate in Norway?
As of Aug 2026, headline consumer price inflation in Norway is 3.29% year-on-year, compared to the Norges Bank target of 2.0% Operational Target.
What was the highest inflation rate recorded in Norway?
In the 1914-2026 series, Norway CPI inflation peaked at 40.00% in 1918 and reached a low of -20.93% in Dec 1921.
Statistical Provenance
Source Metadata & Methodology Notes
- Primary Institution:
- Bank for International Settlements (BIS) & National Statistical Office
- Dataset / Dataflow:
- BIS Long Series on Consumer Prices (WS_LONG_CPI)
- Canonical Series ID:
- WS_LONG_CPI:M:NO:771
- Reuse & License:
- Terms of permitted use of BIS statistics
- Unit of measure: Year-on-year percentage change in headline consumer price index (UNIT_MEASURE=771).
- Central bank benchmark target: 2.0% Operational Target (Norges Bank).
- Annual table values represent annual average inflation across each calendar year.
Academic & Media Attribution
Cite This Dataset (APA & BibTeX)
APA 7th Edition
CentralBankData.com. (2026). Norway Inflation Rate (CPI YoY %), compiled from Bank for International Settlements (WS_LONG_CPI:M:NO:771). https://centralbankdata.com/norway-inflation-rate
BibTeX
@misc{cbd_cpi_norway,
author = {CentralBankData.com},
title = {Norway Consumer Price Inflation Rate},
note = {Compiled from Bank for International Settlements WS_LONG_CPI:M:NO:771},
year = {2026},
url = {https://centralbankdata.com/norway-inflation-rate}
}Related Norges Bank & Global Series
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