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CPI up 3.0 per cent last 12 months
From May 2024 to May 2025 the Consumer Price Index (CPI) increased by 3.0 per cent, while the CPI adjusted for tax changes and excluding energy products (CPI-ATE) rose by 2.8 per cent. The CPI increased by 0.4 per cent from April 2025 to May 2025, while the CPI-ATE increased by 0.2 per cent in the same period.
Reduction in price inflation on exported goods
The prices that Norwegian industrial producers received for their goods on the export market were only 0.5 per cent higher in May this year compared to the same month last year. This is a significant decrease from the corresponding price increase in April, which was 3.6 per cent.
Steady surplus
Government surplus in the last four quarters is calculated at NOK 746 billion. This corresponds to 14 per cent of GDP – equal to the preceding period.
Global turmoil dominates the main picture
The financial accounts for the first quarter of 2025 are characterised by the uncertainty associated with tariffs and trade war. This has had a negative effect on the value of the sectors’ net financial assets. However, the financial position of central government and households remained solid at the end of the quarter.