In May 2025, Norway experienced a 0.1% year-over-year decline in producer prices, contrasting with the 2.1% increase seen in the preceding month. This was the first instance of producer deflation since October 2024. The deflation was primarily driven by a more pronounced decrease in prices for the extraction of oil and natural gas, which fell by 7.5% compared to 3.5% in April, and for energy goods, which decreased by 3.9%, down from a 1% decline in April. Moreover, the growth rate of manufacturing prices slowed, registering at 1.6% compared to 3.2% previously. Conversely, prices for electricity, gas, and steam saw a significant uptick, accelerating to 40.2% from 19.4%. When examining producer prices excluding energy goods, there was a 2.8% year-on-year increase in May, a deceleration from the 4.4% growth the month before. On a month-to-month basis, producer prices fell by 3%, marking the third consecutive monthly decline, though this was less severe than the 5.4% decrease recorded in April.
The material has been provided by InstaForex Company – www.instaforex.com
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