New research has profiled inflation rates across the 38 OECD member countries between December 2021 and December 2022, and Norway had the 6th smallest inflation increase in the period at a rate of 10.78%.
The experts at Utility Bidder have analysed OECD data to profile current inflation rates for member countries, as well as changes over time and forecasts for the future.
You can view the full research here – https://www.utilitybidder.co.uk/compare-business-energy/global-inflation-index/
The top 10 countries with the smallest inflation increase in 2022
| Rank | Country | Total Inflation (Dec 2021) | Total Inflation (Dec 2022) | Inflation Growth (Dec 2021 – Dec 2022) |
| 1 | Brazil | 10.1 | 5.8 | -42.50% |
| 2 | Spain | 6.5 | 5.7 | -12.86% |
| 3 | United States | 7.0 | 6.5 | -8.27% |
| 4 | Hungary | 7.4 | 7.4 | 0.00% |
| 5 | Mexico | 7.4 | 7.8 | 6.28% |
| 6 | Norway | 5.3 | 5.9 | 10.78% |
| 7 | China | 1.5 | 1.8 | 20.00% |
| 8 | South Africa | 5.9 | 7.5 | 26.43% |
| 9 | Luxembourg | 4.1 | 5.4 | 29.69% |
| 10 | Canada | 4.8 | 6.3 | 31.56% |
The research has revealed the following about inflation rates in Norway:
- Between December 2021-2022, inflation in Norway decreased by 10.78%.
- Projections for 2023 suggest that inflation in Norway will fall from 9.59% to 3.41% – decrease of 64.43%.
- By quarter four of 2024, inflation levels are forecast to be at -67.04% compared to December 2022.
Further findings from the study have revealed:
- The top 10 averaged an inflation increase of 6.11%, as opposed to an average of 115.29% across the other 28 member countries.
- Latvia is the country where inflation is most likely to decrease the most in 2023, with a decrease of 72.45%. The current inflation rate in Latvia sits at a high margin of 20.83%.
- The Czech Republic is forecasted to have the highest inflation increase in 2023. Inflation in the country could grow from 6.61% in December 2022 to 8.18% in the last quarter of 2023.
- China is the only country projected to see an inflation increase in 2024, at 11.11%.
You can view the full research again by clicking here.
I have also provided a dropbox of relevant imagery here.
I have sent this research over as I believe it will be of interest to you and your readers, so please let me know if you have any further queries or feedback regarding the study.
Best wishes,
Scott Brown
Digital PR Executive
