**As seen in Risk In The Week report 03/03/23, subscribe at cablefxm.co.uk/reports
**Norway Consumer Prices Report Releases On Friday March 10th, 8:00AM CET
The Scandinavian docket is set to see February consumer prices for Norway. Last month, CPI surprised to the upside as the figure jumped by 0.2% M/m vs the consensus of -0.4%, the Y/y rate printed at 7.0% vs the prior 5.9% and the median survey of 6.5%. Calendar effects failed to show an easing in prices during the month, one of the main drivers of the rise in CPI has been food, the component accelerated by 12.0% Y/y in January vs the prior 11.5%. On a monthly basis, transport prices increased by 3.3% vs the prior -0.8%, marking the fastest rise since 1985. The desk at SEB projects food prices to rise slightly more than the average over the past 4â5 years. Also, they have noted that rents increased significantly more than the normal in January, they expect this upward trend to continue throughout 2023. Analysts at Nordea recently lifted its peak rate forecast for the Norges Bank by 25bps, they now expect the policy rate to reach 3.75% somewhere in between Q3 and Q4. Nordea revised its projection on faster wage acceleration, stronger underlying inflation and a more resilient Norwegian economy.
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