Norway CPI Slows More Than Forecast, Backing September Cut [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 underlying inflation slowed more than expected last month, countering recent evidence of resilience in the Nordic economy and backing the central bank's main scenario of an interest-rate cut in September. The core inflation rate, which excludes volatile items such as energy, fell to 4.5% last month, according to a statement by the statistics office on Wednesday. That's the lowest level in 20 months, and below the 4.7% forecast by analysts and Norges Bank. Article content Article content A faster cooldown of inflation may help outweigh policymakers' concerns regarding the uncertainty of the krone moves and the resilience of the energy-rich economy, which so far have kept Norway behind other wealthy nations that are pivoting to monetary easing. This weekend, a wage deal struck by Norway's employers and the main industrial unions resulted
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