Norway Core Inflation Slowdown Keeps 2024 Rate Pivot in Play [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Norway's core inflation rate extended its declining streak to almost a year as economists scrutinize data to assess whether the country's central bank will cut interest rates before the end of the year. Underlying consumer-price growth, which excludes volatile items such as energy, slowed to 3.1% last month, the lowest level since April 2022, according to data from the statistics office on Thursday. The outcome was below the 3.2% median forecast of economists surveyed by Bloomberg, while Norges Bank had projected a level of 3.3%. Norway has long been seen as one of the last among advanced economies to reverse its monetary restraint, and the latest data adds further uncertainty into months of speculation over how much the central bank will trail its bigger peers like the Federal Reserve and the European Central Bank. The inflation print in itself
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