Prisveksten lå på 3,6 prosent i oktober

October saw a 3.6 percent increase in inflation, according to Bloomberg. Economists had anticipated total inflation to reach 3.7 percent, while core inflation - excluding energy prices and tax changes - was expected to settle at 2.7 percent. The central bank had also predicted core inflation to be 2.7 percent for that month. The reason for the more relaxed core inflation expectations lies in so-called base effects, as prices surged significantly from September to October 2025.

The central bank has raised interest rates twice this year, making mortgages more expensive. The policy rate set by the central bank directly affects whether mortgages are cheaper or more expensive. The policy rate currently stands at 4.5 percent. The central bank has made it clear that inflation is too high, with its goal being a 2 percent inflation rate.

However, core inflation has been around 3 percent for several years. At the last monetary meeting last week, central bank chief Ida Wolden Bache reiterated the need to keep rates high for a while longer. She also stated that the central bank is prepared to raise rates further if necessary to bring down inflation. Some economists argue that the peak has been reached, partly due to a stronger krone and lower foreign interest rate expectations.