Norway’s Core Inflation Unexpectedly Accelerates to Record
- Food and non-alcoholic drink prices rose about 13% in the year
- Norway’s krone strengthens against the euro after the data
This article is for subscribers only.
Norway’s underlying inflation unexpectedly accelerated to a record-high pace as food prices surged, vindicating the central bank’s half-point interest-rate increase last month and setting the stage for another hike in August.
Core inflation, the measure followed by Norges Bank, accelerated to 7.0% in June from a year earlier, compared with the 6.6% forecast by analysts in a Bloomberg survey and a central bank estimate of 6.6%. Headline inflation slowed less than forecast to 6.4%.