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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Core Inflation Rate MoM climbed to 0.2% in September 2026
FMPMonthlyReleased October 2026
Norway Core Inflation Rate MoM climbed to 0.2% in September 2026, released October 2026, up 0.7% from August's -0.5% reading. The print came in hotter than the 0.1% consensus, a hotter print than forecasters anticipated. The print is running well below the 12-month average of 0.27%. Over the past 3 months, Core Inflation Rate MoM averaged 0.07%, vs 0.5% in the prior 3-month window. The reading is in the 46th percentile of the trailing 24-month range.
Latest Release
0.2
Actual
0.1
Consensus
-0.5
Previous
Median Absolute Error
±0.24 percentage points
across last 12 releases
Last Call
Oct 2026
Predicted: 0.05
Actual: 0.2
Error: -0.15
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 |
|---|---|---|---|---|---|
| USD/NOK | ▼ Inverse | −0.62 | FOREX | Moves against | → View |
| EUR/NOK | ▼ Inverse | −0.58 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.54 | COMMODITIES | Moves with | → View |
| DAX | ▲ Direct | +0.48 | INDEX | Moves with | → View |
| Euro STOXX 50 | ▲ Direct | +0.39 | INDEX | Moves with | → 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 0.2% in October 2026. This beat the market consensus of 0.1% by 0.1%. The reading rose from the previous value of -0.5%. Trailing 12-month context per ETL data through October 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 0.17%, down from the prior three at 0.23%. Volatility over the past year (σ 0.4%) is comparable than the prior year (σ 0.42%). In October readings over the past 3 years, Core Inflation Rate MoM has averaged 0.23%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/NOK (Bearish USD). 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 November 10, 2026. Same-country events in the next 14 days include Interest Rate Decision (Nov 5).
Auto-generated from current model state · Refreshes on each release · Last update October 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 (Sep 2026): actual 0.2 %, consensus 0.1 %. Prior reading (Aug 2026): -0.5 %. Before that (Jul 2026): 0.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/NOK (Bearish USD, r=-0.62) — a useful reference for forex-focused traders.
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Economic Calendar - NO Events
| Friday, October 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:00 | NO | Unemployed Persons | 61.9 | 61.5 | 61.5 | 61.70 | Low |
| 07:00 | NO | Unemployment Rate n.s.a | 2 | 2 | 2 | 2.00 | Low |