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09.06.202606:18:15UTC+00Norway Producer Inflation Nears 4-Year High

Producer prices in Norway rose 24.0% year-on-year in May 2026, up from 22.7% in April. This was the third consecutive monthly increase and the highest annual rate since September 2022. The acceleration was largely driven by stronger price growth in manufacturing (9.4% vs. 7.4% in April), especially for refined petroleum products (64.7% vs. 42.3%) and basic metals (14.1% vs. 10.4%).

Producer inflation was further supported by faster price increases for electricity, gas and steam (58.5% vs. 46.4%), as well as for energy goods overall (41.2% vs. 39.0%). By contrast, price growth for the extraction of oil and natural gas eased slightly (35.1% vs. 35.5%). Excluding energy goods, producer prices rose 5.7% year-on-year, compared with 4.5% in April.

On a monthly basis, however, producer prices declined 1.8% in May, following a 0.5% decrease in the previous month.

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