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Global Economy

CNB says July's core inflation of 3.0% Y/Y was above the 2.9% outlook, the decline in food prices is relatively across-the-board

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Norway's July core inflation rose to 3.0%, surpassing forecasts. Despite broad declines in food prices, the CNB remains cautious on monetary policy due to persistent global and domestic inflation pressures.

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Core inflation and global inflation pressures are still arguments for increased caution in monetary policy.

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