Inflation & Prices
Norway’s Core Inflation Breaks Year-Long Slowdown Streak
- Underlying price growth topped analyst forecasts in November
- Data could lower chances of a key rate cut before March
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Norway posted the first pick-up in monthly core inflation in a year, exceeding analyst expectations and backing the central bank’s projections for no interest-rate cuts until March.
The rate of underlying consumer-price growth, which excludes volatile items such as energy, rose to 3% last month from a year earlier, after slowing since last November, according to data from the statistics office on Tuesday. The outcome was higher than the 2.8% median forecast of economists surveyed by Bloomberg, while it matched Norges Bank’s projection.