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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Inflation Rate YoY fell to 3.1% in May 2026
FMPMonthlyReleased June 2026
Norway Inflation Rate YoY fell to 3.1% in May 2026, released June 2026, down 0.3% from April's 3.4% reading. The reading matched expectations. Inflation Rate YoY has now declined for 3 consecutive months. Over the past 3 months, Inflation Rate YoY averaged 3.5%, vs 3.17% in the prior 3-month window. The reading is in the 60th percentile of the trailing 24-month range.
Latest Release
3.1
Actual
3.1
Consensus
3.4
Previous
Median Absolute Error
±0.18 percentage points
across last 12 releases
Last Call
Jun 2026
Predicted: 3
Actual: 3.1
Error: -0.1
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| DAX | ▼ Inverse | −0.43 | INDEX | Bearish DAX | → View |
| Euro STOXX 50 | ▼ Inverse | −0.40 | INDEX | Bearish Euro STOXX 50 | → View |
| XAU/USD | ▼ Inverse | −0.37 | COMMODITIES | Bearish XAU | → View |
| FTSE 100 | ▼ Inverse | −0.30 | INDEX | Bearish FTSE 100 | → View |
| EUR/NOK | ▼ Inverse | −0.30 | FOREX | Bearish EUR | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Inflation Rate YoY (Norway) was reported at 3.1% in June 2026. This matched the market consensus of 3.1% exactly. The reading fell from the previous value of 3.4%. Trailing 12-month context per ETL data through June 2026. Over the past 12 months, the indicator has averaged 3.25%, ranging from 2.7% to 3.6% across 11 releases.
WHY IT MATTERS
The trailing three releases averaged 3.07%, down from the prior three at 3.27%. Volatility over the past year (σ 0.27%) is lower than the prior year (σ 0.36%). In June readings over the past 3 years, Inflation Rate YoY has averaged 3.03%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with DAX (Bearish DAX). A secondary relationship exists with Euro STOXX 50, negatively correlated (Bearish Euro STOXX 50). Over the last 12 releases, the Sigmacast model's median absolute error is 0.18%.
WHAT TO WATCH NEXT
The next release is scheduled for July 10, 2026. Same-country events in the next 14 days include Norges Bank Interest Rate Decision (Jun 18) and Interest Rate Decision (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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Inflation Rate YoY - NO
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About Inflation Rate YoY — Norway
DEFINITION
The Inflation Rate YoY (Year-over-Year) is a financial indicator that measures the percentage change in the overall price level of goods and services over a 12-month period. It is a key measure of inflation and is used by economists and policymakers to monitor the health of an economy and make informed decisions regarding monetary policy. A higher inflation rate can indicate a growing economy, but if it rises too quickly, it can lead to negative effects such as decreased purchasing power and higher interest rates. Conversely, a lower inflation rate can signal a slowing economy, but if it falls too low, it can lead to deflation and potential economic instability. The Inflation Rate YoY is an important tool for understanding and managing the impact of price changes on the economy.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 3.1 %, consensus 3.1 %. Prior reading (Apr 2026): 3.4 %. Before that (Mar 2026): 3.6 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with DAX (Bearish DAX, r=-0.43) — a useful reference for index-focused traders.