Investing.com -- Norway’s annual core inflation rate, which excludes fluctuating energy costs and taxes, saw a decrease in May, according to data released by Statistics Norway (SSB) on Tuesday.
The rate fell to 2.8% year on year, a drop from the 3.0% recorded in April. This figure was also lower than the 2.9% that analysts had anticipated in a poll.
This decline in core inflation supports predictions that interest rates in Norway might start to decrease later this year.
It’s worth noting that the Norges Bank, Norway’s central bank, had projected a core inflation rate of 3.1%.
The actual figure falling short of this forecast could be a significant factor in future monetary policy decisions.
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