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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NORWAY
MNI (London)
NORWAY JUN CPI +0.9% M/M, +6.3% Y/Y (FCST 5.9%); MAY +5.7%
NORWAY JUN CORE CPI (CPI-ATE) +0.5% M/M, +3.6% Y/Y (FCST +3.6%); MAY +3.4% Y/Y
- The Norwegian headline inflation beat expectations of a more mild 0.2pp uptick in June, jumping 0.6pp to +6.3% y/y.
- This is the highest rate since 1988.
- Notable underlying pressures were once again food and non-alcoholic beverage prices, which rose a notable 1.7% m/m, whilst the transport category continued to see the effects of soring fuel and energy prices at +3.2% m/m.
- Core/tax change-excluded inflation (CPI-ATE) was in line with consensus, accelerating 0.2pp to 3.6% y/y, following the surprise 0.8pp increase to 3.4% y/y in May which effectively pushed Norges Bank to hastily hike 50bp at their June meeting.
- With core inflation continuing to quicken, this underpins the need for further tightening at the next meeting.
Source: Statistics Norway
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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