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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Core Inflation Rate MoM fell to -0.5% in August 2026
FMPMonthlyReleased September 2026
Norway Core Inflation Rate MoM fell to -0.5% in August 2026, released September 2026, down 1.3% from July's 0.8% reading. The print came in cooler than the -0.4% consensus, a softer print than forecasters anticipated. The print is running well below the 12-month average of 0.33%. Over the past 3 months, Core Inflation Rate MoM averaged 0.37%, vs 0.4% in the prior 3-month window. Core Inflation Rate MoM is now the lowest in 11 months.
Latest Release
-0.5
Actual
-0.4
Consensus
0.8
Previous
Median Absolute Error
±0.24 percentage points
across last 12 releases
Last Call
Sep 2026
Predicted: -0.45
Actual: -0.5
Error: +0.05
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| DAX | ▲ Direct | +0.40 | INDEX | Moves with | → View |
| EUR/NOK | ▼ Inverse | −0.36 | FOREX | Moves against | → View |
| Euro STOXX 50 | ▲ Direct | +0.33 | INDEX | Moves with | → View |
| XAU/USD | ▲ Direct | +0.33 | COMMODITIES | Moves with | → View |
| USD/NOK | ▼ Inverse | −0.32 | FOREX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Core Inflation Rate MoM (Norway) was reported at -0.5% in September 2026. This missed the market consensus of -0.4% by 0.1%. The reading fell from the previous value of 0.8%. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 0.28%, ranging from -0.5% to 0.8% across 12 releases.
WHY IT MATTERS
The trailing three releases averaged 0.07%, down from the prior three at 0.5%. Volatility over the past year (σ 0.4%) is comparable than the prior year (σ 0.42%). In September readings over the past 3 years, Core Inflation Rate MoM has averaged -0.63%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with DAX (Bullish DAX). A secondary relationship exists with EUR/NOK, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.24%.
WHAT TO WATCH NEXT
The next release is scheduled for October 9, 2026. Same-country events in the next 14 days include Interest Rate Decision (Sep 24).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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Core Inflation Rate MoM - NO
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About Core Inflation Rate MoM — Norway
DEFINITION
The Core Inflation Rate MoM (Month-over-Month) is a key financial indicator that measures the change in prices of goods and services, excluding volatile items such as food and energy, on a monthly basis. It provides insight into the underlying inflation trends and helps policymakers and investors make informed decisions about monetary policy and market strategies. This indicator is considered a more reliable measure of inflation as it eliminates the impact of temporary price fluctuations, providing a clearer picture of the overall inflationary pressures in the economy.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual -0.5 %, consensus -0.4 %. Prior reading (Jul 2026): 0.8 %. Before that (Jun 2026): -0.1 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with DAX (Bullish DAX, r=0.40) — a useful reference for index-focused traders.
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Economic Calendar - NO Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | NO | Balance of Trade | 100.4 | 88.8 | 95.1 | 97.75 | Low |