Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Norwegian Inflation Accelerates After Central Bank Cuts Rates

Feb. 10 (Bloomberg) -- Norwegian underlying inflation accelerated for the first time in five months after the central bank cut interest rates to stimulate growth.

The annual underlying inflation rate, adjusted for taxes, fees and energy prices, rose to 1.3 percent in January from 1 percent a month earlier, Oslo-based Statistics Norway said today. That compares with the 1.2 percent median estimate in a Bloomberg survey of 12 economists. Underlying consumer prices fell 0.6 percent from December, the office said.

The central bank cut its benchmark interest rate by 50 basis points to 1.75 percent in December, the first reduction since June 2009, as slowing growth in continental Europe weighs on exports. Norway’s manufacturing industry grew in January for the first time in three months, while retail sales rose an annual 2.6 percent in December and credit growth was 6.7 percent.

Norges Bank policy makers meet on March 14 to decide on interest rates.

To contact the reporter on this story: Josiane Kremer at jkremer4@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.