Norway’s Core Inflation Slows More Than Forecast to 2025 Low

Norway’s underlying inflation rate declined slightly more than expected in May, cementing the case for Norges Bank to begin interest-rate cuts in coming months.

Underlying consumer-price growth excluding energy fell to 2.8% last month, matching this year’s lowest level from January, according to data from the statistics office on Tuesday. Economists surveyed by Bloomberg had a median forecast of 2.9%, while Norges Bank projected a rate of 3.1%.