(Bloomberg) -- Norwegian inflation unexpectedly slowed in March, casting doubt on the central bank’s plan to start tightening interest rates after the summer.
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Underlying consumer prices rose 1.2 percent in March from a year earlier, below the 1.4 percent estimated by analysts. Headline inflation was unchanged at 2.2 percent, missing the 2.4 percent estimate.
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Underlying inflation is falling deeper below the central bank’s newly minted 2 percent target. Policy makers have flagged they will start raising rates “after summer” in anticipation a pick up in economic growth and falling unemployment will push up price growth.
The Norwegian krone fell 0.16 percent to 9.6075 per euro as of 8:08 a.m. in Oslo.
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