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CPI up 2.5 per cent last 12 months

The Consumer Price Index (CPI) increased by 2.5 per cent from May 2018 to May 2019, while the CPI-ATE growth was 2.3 per cent in the same period. From April 2019 to May 2019 the CPI decreased by 0.3 per cent, while the CPI-ATE decreased by 0.2 per cent.

Continued fall in gas prices

The price of natural gas fell for the seventh consecutive month and was the main reason behind the 1 per cent drop in the PPI in May. Higher prices on petroleum products contributed in the opposite direction.

Stable growth in mainland GDP

Growth in the gross domestic product (GDP) for mainland Norway was 0.4 per cent in February to April compared with November to January. GDP for mainland Norway grew 0.3 per cent from March to April.

Economic trends for Norway and abroad

Trade tensions reducing growth outlook for the Norwegian economy

The Norwegian economy is experiencing a moderate and broad-based economic upturn. Higher interest rates and lower growth internationally are set to curb future activity.