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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 MAR CPI +0.8% M/M; +6.5% Y/Y (FCST +6.1%); FEB +6.3% Y/Y
NORWAY MAR UNDERLYING CPI +0.6% M/M; +6.2% Y/Y (= FCST); FEB +5.9% Y/Y
- Norwegian CPI surprised to the upside in the March data, accelerating by 0.2pp to +6.5% y/y against expectations of a 0.2pp slowdown.
- Month-on-month inflationary pressures strengthened at +0.8% m/m, quickening from +0.4% m/m in February.
- A +5.8% m/m jump in apparel helped drive consumer goods prices higher (+1.2% m/m), and service prices rose +0.5% m/m boosted by transport, restaurants and hotels.
- Compared to March 2022, services inflation held steady at +5.3% y/y, whilst consumer goods jumped 0.5pp to +7.8% y/y.
- Underlying (CPI-ATE) inflation remains a key concern for Norges Bank, accelerating by 0.3pp to +6.2% y/y in March, only 0.2pp below the January high.
- At the March meet, Norges Bank signalled further tightening is likely to follow in May.
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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