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EUR/NOK Slides to New Daily Lows as CPI Well Ahead of Forecast


Solid beat for Norway inflation - and puts CPI well ahead of the Norges Bank's December projections:

  • Norway CPI (Jan) M/M 0.2% vs. Exp. -0.5% (Prev. 0.1%)
  • CPI (Jan) Y/Y 7.0% vs. Exp. 6.5% (Prev. 5.9%)
  • Underlying CPI (Jan) M/M 0.2% vs. Exp. -0.2% (Prev. 0.4%)
  • Underlying CPI (Jan) Y/Y 6.4% vs. Exp. 6.0% (Prev. 5.8%)

Key drivers here were Transport (+3.3% M/M and +11/7% Y/Y), Recreation and culture (+0.8% M/M and +8.1% Y/Y) and food, alcoholic beverages, up 1.6% and 1.8% M/M respectively.

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