Core inflation (CPI-ATE) rose by 2.6 percent on an annual basis. It was expected that inflation would end at 2.0 percent (Reuters) or 1.9 percent (Bloomberg). Norges Bank’s projections of 2.2 percent, while DNB Markets’ forecast was 2.1 percent.
“Inflation came out much higher than expected in July, and also significantly higher than Norges Bank had anticipated. Figure drawing thus clearly indicate that the interest rate will not be reduced, nor do we waiting, “writes DNB Markets comments.
From June to July rose core prices by 0.6 percent, while it was expected a drop of 0.1 percent. Imported inflation increased from 1.4 to 1.8 percent (strong upward trend), while the domestic rose from 2.8 to 3.0 percent.
krone gained five to six cents against the euro by the numbers immediately. FRA one up 08.06 points.
The euro now costs 8.29 million, while the dollar goes for 6.20 million.
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