Saturday, 20 April 2024
Norway’s consumer prices rose sharply in January from a year earlier, official data showed on Monday, strengthening the crown currency ahead of a Feb. 13 speech by the central bank governor.
Core inflation, a key measure for monetary policy, stood at 2.9% year-on-year, Statistics Norway (SSB) said, up from 1.8% in December, while analysts in a Reuters poll on average had expected a rebound to 2.0%.
Food, transportation and several service categories were among the factors pulling up prices, Statistics Norway (SSB) said in a statement.
The crown rallied to 10.1179 against the euro following the 0600 GMT data release from 10.1518 earlier.
The currency weakened last year despite several central bank rate hikes, and hit an all-time low of 10.3121 against the euro in October.
Central bank governor Oeystein Olsen is due this week to hold his annual speech to Norwegian business leaders and politicians, in which he is expected to give a broad outline of the country’s economic prospects.
Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.
Smarter Decisions with Smart News
Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.
Pro-nuclear energy protesters rally against Greenpeace in Paris 
Credit Suisse taps Santangelo as global co-head of healthcare 
