Norway Core Inflation Keeps Pace, Matching Central Bank View

Norway’s underlying inflation kept its pace in July in line with projections by the country’s central bank, backing the case for officials to keep reducing borrowing costs next month.

Underlying consumer-price growth excluding energy stayed put at 3.1% last month, according to data from the statistics office on Monday. Economists surveyed by Bloomberg had a median forecast of 3%, while Norges Bank expected a 3.1% gain.