Development of inflation rates in Norway
The inflation rate for consumer prices in Norway moved over the past 40 years between 0.5% and 13.6%. For 2019, an inflation rate of 2.2% was calculated.
During the observation period from 1979 to 2019, the average inflation rate was 3.9%
per year. Overall, the price increase was 347.07 %. An item that cost 100 Kronen in 1979 was so charged 447.07 Kronen in the beginning of 2020.
In only a very few countries, the price increase is that high. The rate of 13.6% in 1981 means, that compared to the previous year all prices have been increased by an average of 13.6%. In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.Back to overview: Norway