Norway Inflation Slows More Than Forecast, Denting Hike Plan
- Headline and core price growth both declined in September
- Data casts doubt on Norges Bank’s plan for more tightening
Shoppers walk along Karl Johans gate, the main shopping street in Oslo.
Photographer: Odin Jaeger/BloombergThis article is for subscribers only.
Norway’s inflation slowed more than expected last month, adding to evidence of a cooldown in the Nordic economy and reducing the chance of one more quarter-point rate hike by the central bank.
The core inflation rate, watched more closely by analysts as a better indicator of Norges Bank’s actions, declined to 5.7% in September, according to a statement from the statistics office on Tuesday. That compares with a 6.1% forecast by analysts and Norges Bank. Headline price growth also slowed to a 20-month low of 3.3%.