Recent economic data from multiple countries indicate varied inflation trends and monetary policy adjustments. Norway's Consumer Price Index (CPI) for July rose 3.3% year-over-year, slightly above the 3.0% forecast and previous 3.0%, with a monthly increase of 0.8%. Underlying CPI also increased by 3.1% year-over-year and 0.8% month-over-month. Meanwhile, Norway's Producer Price Index (PPI) including oil showed a monthly rise of 0.8% and a year-over-year decline of 0.3%. In Australia, the Reserve Bank of Australia (RBA) cut its cash rate by 25 basis points to 3.60%, marking the third reduction in 2025 and reaching a two-year low. The RBA maintained a cautious outlook due to uncertainties in demand and supply, noting some tightness in the labor market. It lowered GDP growth forecasts to 1.7% for the end of 2025, 2.1% for 2026, and 2.0% for 2027, while forecasting inflation rates of 3.0% at the end of 2025, 2.9% in 2026, and 2.5% in 2027. The Australian Wage Price Index rose 3.4% year-over-year in Q2 2025, slightly above expectations, with a quarterly increase of 0.8%. Japan's July Producer Price Index increased 2.6% year-over-year and 0.2% month-over-month, both slightly above forecasts. In the United States, July CPI inflation rose 2.7% year-over-year, just below the 2.8% forecast, with a monthly increase of 0.2%. Core CPI increased 3.1% year-over-year and 0.3% month-over-month, surpassing expectations. Following the U.S. inflation data, market odds for a Federal Reserve rate cut in September surged, reaching above 90% and climbing to as high as 98% according to some futures markets. This reflects increased market confidence that the Fed will reduce rates amid slowing inflation and a looser labor market.