- CPI inflation down to 2.5 percent and core CPI inflation down to 2.3 percent in March - weaker than expected
- Cost pressure still high, but trending downward
- Inflation not weak enough to prevent rate hike in May
- Inflation back in line with Riksbank forecast
- Driven by surprisingly high energy prices; underlying inflation also looks decent
- Riksbank to delay rate hike, as core inflation disappointment tips the balance
- CPI-ATE was 1.2 percent in March, down from 1.4 percent in February and well below expectations
- HCMe and Norges Bank forecast was 1.5 percent in March; consensus was 1.4 percent
- Deviation explained by prices for imported consumer goods
- Payrolls rise by 103,000 people in March; weaker than expected
- Unempoyment rate unchanged at 4.1%; wage growth picks up to 2.7% (2.6%)
- Weak report does not alter our outlook for three more Fed hikes this year
- Expect a surge in inflation...
- ...but the spike is temporary, as the CPI is once again riding the airfares rollercoaster
- Underlying inflation on an upward trend, giving the Riksbank an opportunity to stay the course at April meeting
- CPI-ATE probably rose to 1.5 percent in March from 1.4 percent in February
- In line with central bank estimates
- Manufacturing output likely returned to growth in February