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NORWAY: Fall In 1-year Inflation Expectations In Norges Bank Q3 Survey

NORWAY

Norges Bank Q3 Expectations Survey here.

  • Fall in 1-year inflation expectations across respondents: "The economists expect goods and services inflation 12 months ahead to be 3.1 per cent, down 0.5 percentage point from the previous quarter. The social partners expect goods and services inflation to be 3.5 per cent 12 months ahead, down 0.6 percentage point from the previous quarter"
  • On longer term inflation expectations: "Economists’ expectation of annual inflation 5 years ahead is 2.4 per cent, down 0.1 percentage point from the previous quarter"..."The social partners expect annual inflation of 2.7 per cent in 5 years, unchanged from the previous quarter".
  • Wage expectations little changed overall, a touch below Norges Bank's 5.2% 2024 wage growth expectation: "The economists expect annual wage growth of 5.1 per cent in 2024, unchanged from the previous quarter. Expected annual wage growth among the social partners is 5.1 per cent, up 0.1 percentage point from the previous quarter".
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