Norway’s Core Inflation Eases to 2.7% in October, Reducing Rate Hike Pressure

The decline was expected and reflects moderate price increases for food and imported goods.

This reduces the likelihood that Norges Bank will raise its key interest rate again this year.

However, wage growth in Norway remains high, and elevated energy prices resulting from the war in the Middle East pose a risk of continued inflation problems.

Meanwhile, Denmark reported inflation of 2.2 percent in October, unchanged from September. The price increases are mainly due to higher fuel prices, according to Statistics Denmark.