Norway's April CPI slows as fuel tax cut tempers price surge

Norway's consumer price index (CPI) rose 3.4% in April compared with a year earlier, a slight slowdown from the 3.6% increase recorded in March. Monthly inflation eased to 0.4% as lower energy costs offset broader price pressures.

Statistisk sentralbyrå (SSB) said the cut to fuel taxes, which took effect on 1 April, helped dampen the pace of inflation. Fuel prices fell 10.6% month‑on‑month, while electricity prices including network charges dropped 0.9%, a reversal from a 7.3% rise in the same period last year.

Food and drink prices continued to climb, up 6.6% over the past year and 2.8% from March to April after a previous decline. Overall food prices have risen 6.1% year‑on‑year. SSB section chief Espen Kristiansen noted that electricity and fuel, which had driven price growth in March, now contributed to a slower CPI trajectory.