Norway CPI measures how fast consumer prices are rising year-on-year, the key inflation gauge Norges Bank watches when setting interest rates.
Actual
5.4%
Forecast
5.5%
Previous
6.4%
Source: Statistics Norway. Figures as released; revisions appear in the next print.
Norway Inflation Rate (CPI) for July 2023 came in at 5.4% versus 5.5% expected (previous 6.4%), below forecast, which was negative for the NOK.
What it meant for the NOK
The actual landed below the 5.5% forecast (0.1 below expectations). A reading above forecast is generally bullish for the NOK, and below forecast bearish. On this release the read was negative for the NOK.
New to this release? See what Norway Inflation Rate (CPI) measures, the next release and its full history.