09.02.202607:04:27UTC+00Norway Producer Prices Fall the Least in 3 Months

Producer prices in Norway experienced a 7.8% decline year-over-year in January 2026, following a more pronounced 11.4% drop in December 2025. This marks the smallest reduction since the previous October. The moderation in the rate of decline was primarily driven by the oil and natural gas extraction sector, where prices decreased by 22.7%, an improvement from December's 29.6% drop. Energy goods also saw a less steep decline, falling 17.5% compared to the previous 22.5% decrease. Meanwhile, the prices for electricity, gas, and steam saw a significant increase, accelerating to 58.2% from 28.8%. When excluding energy goods, producer prices increased at a quicker pace of 3.0%, up from December's 1.0% rise. In the manufacturing sector, price growth slowed to 0.9% from the prior month's 1.5%, as a substantial 18.5% reduction in refined petroleum product costs affected the sector. This was partially balanced by a 6.8% increase in machinery and equipment prices, despite a 5.1% decrease in food product prices. On a month-to-month basis, overall producer prices rose sharply by 8.9%, recovering from a 1.5% decrease observed in the previous month.