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Investing.com -- Norway’s consumer price inflation remains above target despite policy rate hikes, Central Bank Governor Ida Wolden Bache said in a speech on Wednesday.
Wolden Bache noted that while the central bank’s policy rate increases have helped reduce inflation, it still exceeds the bank’s target level.
"Domestic prices are still rising rapidly, which reflects, among other things, a sharp rise in business costs in recent years," the governor stated.
She also addressed the issue of higher tariffs, saying their implications remain uncertain, though their effects on the Norwegian economy appear to be limited so far.
The central bank chief’s comments come as Norway continues to manage inflationary pressures, with imported goods costs declining while domestic price growth remains strong.
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