Norway’s inflation rate was measured at 2.2 percent in December, the lowest level since the end of 2020. The overall inflation rate for the full year of 2024 landed at 3.1 percent, down from 5.5 percent in 2023.
“Prices for diverse electronics fell further in December,” said Espen Kristiansen of state statistics bureau SSB, while there also were lots of holiday-related discounts offered on various merchandise. Underlying price growth adjusted for energy prices and changes in taxes and fees accounted for an overall reduction after a slight rise in November.
Norway’s central bank is still aiming for an inflation rate of just 2 percent, and has been keeping interest rates unchanged at 4.5 percent for the past year to curb spending and help achieve that. The declines in the inflation rate have prompted Norges Bank’s governor to suggest that interest rates are likely to be lowered later this winter.
NewsinEnglish.no staff
