Norway Producer Prices Drop 3% in August

Producer prices in Norway dropped 3.0% year-on-year in August 2025, accelerating from a 0.3% decrease in the previous month. This marked the steepest fall in producer prices since October 2024, driven by declines in the extraction of oil and natural gas, where prices fell 13.0% compared with a 6.1% decline in July, and in energy goods, which decreased 9.1%, a sharper drop than the 4.2% recorded a month earlier. Conversely, some sectors experienced upward pressure on prices, with electricity, gas, and steam registering a substantial acceleration to 40.1% from 23.6%, while manufacturing saw a slight moderation in price growth, easing to 1.7% from 2.0%. Excluding energy goods, overall producer price inflation softened slightly, reaching 2.7% in August compared with 2.9% in July, reflecting a more subdued underlying trend in the broader economy. On a monthly basis, the total PPI fell 0.9%, following a 0.8% rise in July.