The Core inflation released by the Statistics Norway
is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services, excluding taxes and energy. The purchase power of Norwegian krone is dragged down by inflation. The Core inflation is a key indicator since it is used by the Central Bank to set interest rates. Generally speaking, a high reading is seen as positive (or bullish) for the Norwegian krone, while a low reading is seen as negative (or Bearish).