Global LNG Exports Drop 4% in Q1 2026 as Qatar Shutdown Reshapes Energy Markets 
U.S. Futures Slip as Iran Rejects Ceasefire and Trump Deadline Looms 
Morgan Stanley: Fed Rate Cuts Still on Track Despite Oil-Driven Inflation 
Asian Markets Rally on Iran Ceasefire Hopes as US-Iran Tensions Simmer 
China's Fermented Feed Push: Cutting Soybean Dependence Amid Trade War 
Oil Crisis Escalates: Trump Threatens Iran as Strait of Hormuz Closure Pushes Prices Above $110 
China's Energy Resilience Shields Economy From Global Oil Shock, Goldman Sachs Says 
Asian Currencies Waver as Dollar Holds Firm Amid Middle East Tensions 
Norway’s core consumer price inflation remained well below target, while headline inflation is lifted by higher electricity prices. The drop in core inflation in June was as expected by Norges Bank and does not change the interest rate outlook.
"We continue to expect a rate hike in September, which was also clearly communicated by Norges Bank in June," according to the latest report from DNB Markets.
The upturn in the Norwegian economy is continuing and Norges Bank has made clear it is willing to accept temporary low inflation as long as the real economy is improving and there is outlook for increasing wages and prices ahead. Besides, we get to more monthly inflation observations before the next MPR in September (the August meeting is without MPR or new forecasts).
Core inflation (CPI-ATE) was 1.1 percent y/y in June, down from 1.2 percent in May. Consensus expected 1.1 percent according to Bloomberg and Norges Bank projected 1.1 percent in the June MPR. Prices for imported goods rose 0.4 percent y/y as in May. Other core prices rose by 1.5 percent, compared to 1.6 percent in May.
Meanwhile, the total consumer price index rose by 2.6 percent y/y in June. Consensus expected 2.4 percent, while Norges Bank forecast 2.3 percent.
