Norway’s annual inflation rate accelerated to 3% in July 2026 from 2.7% in June, with consumer prices rising 1% on the month after a 0.2% decline previously. The annual pickup was driven mainly by faster price growth in housing, water, electricity, gas and other fuels, as well as transport, against a backdrop of elevated global energy prices. Health, recreation, sport and culture, and clothing and footwear also recorded firmer inflation. By contrast, price growth slowed across several categories including food and non-alcoholic beverages, furnishings and household equipment, alcoholic beverages, tobacco and narcotics, restaurants and accommodation services, and insurance and financial services. Core inflation, measured by the CPI-ATE (consumer price index adjusted for tax changes and excluding energy products), was unchanged at 2.7% year on year and rose 0.8% month on month.