Inflation & Prices
Norway Inflation Slows Less Than Expected, Cooling Rate Bets
- Core CPI slowed to 4.4% in April versus 4.2% analyst view
- Data backs delay in rate cuts, signaled by Norges Bank
Norway’s underlying inflation rate fell less than analysts expected last month, likely reducing expectations that the central bank will deliver its first interest-rate cut this year.
The core inflation rate, which excludes volatile items such as energy, eased to 4.4% in April, according to a statement from the statistics office on Friday. That’s just below the Norges Bank’s projection of 4.5%, while the median forecast in a Bloomberg survey of analysts was for a 4.2% pace.