There are some odd base effects at play for Norway’s July inflation, and analysts at TD Securities are looking for CPI-ATE to slip from 1.1% in June to only 1.0% y/y in July (mkt 1.2%).
Key Quotes
“It is likely to bounce back to the 1.5% area through most of the rest of the year from August. This is something that the Norges Bank is likely to look through entirely, as it should be entirely temporary, and they seem to be more focused on growth anyways.”
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