挪威OBX全股指数 (OsloBorsAllShare) 加自选

继9月份下降2.8%之后，挪威的生产者价格指数在2025年10月同比下降6.9%。这标志着连续第六个月出现收缩，也是自2024年3月以来最快的收缩速度，原因是石油和天然气开采价格（-19.7%对9月的-12.2%）和能源商品价格（-15.0%对-7.9%）大幅下跌。与此同时，制造业（1.9%对1.3%）和电力、天然气和蒸汽（28.9%对38.0%）的价格继续上涨。不包括能源商品，10月份的整体生产者价格通胀率从9月份的1.3%降至1.0%。按月计算，PPI总额微涨0.1%，较上月1.7%的跌幅略有回升。

Producer prices in Norway fell 6.9% year-on-year in October 2025, following a 2.8% decline in September. This marked the sixth consecutive month of contraction and the steepest pace since March 2024, driven by sharper drops in prices for the extraction of oil and natural gas (-19.7% vs -12.2% in September) and energy goods (-15.0% vs -7.9%). Meanwhile, prices continued to rise for manufacturing (1.9% vs 1.3%) and electricity, gas, and steam (28.9% vs 38.0%). Excluding energy goods, overall producer price inflation eased to 1.0% in October from 1.3% in September. On a monthly basis, the total PPI inched up 0.1%, rebounding slightly from a 1.7% decline in the previous month.

挪威的年通货膨胀率从上个月的3.6%降至2025年10月的3.3%，为7月以来的最低水平，但超过了市场预测的3.1%。食品和非酒精饮料（9月份为6.2%对6.3%）、住房和公用事业（3.6%对6.2%）以及餐馆和酒店（3.1%对3.2%）的价格增长有所放缓。与此同时，服装和鞋类价格继续下跌（-1.5%对-2.1%）。相比之下，交通（3.0%对2.9%）和娱乐文化（3.7%对2.5%）的通货膨胀加速。家具和日常维护成本也出现反弹（0.7%对-1.3%）。在9月份上涨0.4%之后，消费者价格指数环比上涨0.3%。与此同时，不包括能源产品和税收变化的CPI-ATE在10月份同比增长3.4%，超过3.0%的预测，达到七个月来的最高水平。环比上涨0.6%，较之前的0.2%大幅加速，创下7月以来的最高涨幅。

Norway’s annual inflation rate eased to 3.3% in October 2025 from 3.6% in the prior month, marking the lowest level since July but surpassing market forecasts of 3.1%. Price growth eased for food and non-alcoholic beverages (6.2% vs 6.3% in September), housing and utilities (3.6% vs 6.2%), and restaurants and hotels (3.1% vs 3.2%). At the same time, clothing and footwear prices continued to fall (-1.5% vs -2.1%). In contrast, inflation accelerated for transport (3.0% vs 2.9%) and recreation and culture (3.7% vs 2.5%). Costs also rebounded for furnishings and routine maintenance (0.7% vs -1.3%). On a monthly basis, consumer prices rose 0.3%, after a 0.4% gain in September. Meanwhile, the CPI-ATE, which excludes energy products and tax changes, increased 3.4% yoy in October, topping forecasts of 3.0% and registering the highest level in seven months. Month-on-month, it increased 0.6%, sharply accelerating from a 0.2% rise previously and hitting its strongest pace since July.

挪威消费者信心指数从上一季度向下修正的-4.5升至2025年第四季度的-3.7。这标志着连续第15个时期出现负面情绪，但这是该序列中最不悲观的读数，因为消费者对该国来年的经济前景不再那么悲观（-24.4对第三季度的-28.3），并且认为大额购买的时间稍微不那么不利（-8.9对-9.1）。与此同时，在过去的一年里，家庭对自己的财务状况略有负面看法（-0.1对6.9），对未来也不那么乐观（10.1对21.8）。与此同时，消费者对过去12个月该国的经济表现变得更加负面（-8.3对-3.3）。

Norway’s consumer confidence indicator rose to -3.7 in the fourth quarter of 2025 from a downwardly revised -4.5 in the previous quarter. This marked the fifteenth consecutive period of negative sentiment but the least pessimistic reading in the sequence, as consumers became less negative about the country’s economic outlook for the coming year (-24.4 vs -28.3 in Q3) and viewed the time for making large purchases as slightly less unfavorable (-8.9 vs -9.1). Meanwhile, households turned slightly negative about their own finances over the past year (-0.1 vs 6.9) and were less optimistic about the future (10.1 vs 21.8). At the same time, consumers became more negative about the country’s economic performance over the past twelve months (-8.3 vs -3.3).

挪威商业银行：挪威银行不会让人感到意外。挪威商业银行：挪威银行不会让人感到意外

NOK: Norges Bank delivers no surprises – Commerzbank.NOK: Norges Bank delivers no surprises – Commerzbank