July 2025 CPI: Norway 3.3%, Germany 2.0%, Spain 2.7%, Japan PPI 2.6%, Australia Wage Index 3.4%

Consumer price index (CPI) data for July 2025 from several countries showed mixed results relative to forecasts and previous readings. Norway's CPI rose 3.3% year-over-year, slightly above the 3.0% forecast and previous 3.0%, with a monthly increase of 0.8%, up from 0.3% previously. Underlying CPI in Norway also increased by 3.1% year-over-year and 0.8% month-over-month. Norway's producer price index (PPI) including oil rose 0.8% month-over-month, reversing a prior decline, though it remained down 0.3% year-over-year. In the Netherlands, CPI year-over-year was 2.9%, matching forecasts but down from 3.1% previously. Japan's PPI increased 2.6% year-over-year, slightly above the 2.5% estimate but below the previous 2.9%, with a 0.2% monthly rise. Australia's wage price index increased 3.4% year-over-year, in line with forecasts. Germany's final CPI for July remained steady at 2.0% year-over-year, matching both estimates and prior data, with a 0.3% monthly increase. The EU-harmonized CPI for Germany was 1.8% year-over-year with a 0.4% monthly rise. Spain's CPI held steady at 2.7% year-over-year, consistent with forecasts and previous figures, while the monthly CPI declined slightly by 0.1%. Spain's core CPI increased by 2.3% year-over-year, also matching estimates, with a 0.2% monthly decrease. These inflation metrics provide insight into inflation trends across Europe and Asia for July 2025.