In this article, we study in detail the linear dynamics and
cubic interactions for any number Nfield of scalar
fields during inflation, directly in terms of the observable
curvature perturbation ζ and Nfield-1 entropic
fluctuations, a choice that is more suitable for analytical works.
In the linear equations of motion for the perturbations, we uncover
rich geometrical effects beyond terms involving just the scalar
curvature of the field space, and that come from the non-canonical
kinetic structure of the scalar fields when the dimension of the
field space is larger than two. Moreover, we show that a fast
rotation of the local entropic basis can result in negative
eigenvalues for the entropic mass matrix, potentially destabilising
the background dynamics when Nfield⩾ 3. We
also explain how to render manifest the sizes of cubic interactions
between the adiabatic and the entropic fluctuations, extending a
previous work of ours to any number of interacting fields. As a
first analytical application of our generic formalism, we derive the
effective single-field theory for perturbations up to cubic order
when all entropic fluctuations are heavy enough to be integrated
out. In a slow-varying limit, we recover the cubic action expected
from the effective field theory of inflation, but with a prediction
for the usual Wilson coefficients in terms of the multifield
parameters, thus proposing a new interpretation of the bispectrum in
this generic Nfield context.