– There is a fairly high price increase until April for food products, section manager of the National Statistics Service Espen Kristiansen tells news. Figures from Statistics Norway show that the price of food has risen by 10.8 per cent in the past year. Section chief Espen Kristiansen at SSB. Photo: Mari Reisjå / news From March to April, food prices increased by 2.6 per cent. No major monthly change has been recorded since the price jump for food in July last year. – All in all, the price increase is probably a bit higher than most expected, concludes Kristiansen. Since December, food prices have increased by 4 per cent, and they have increased steadily in contrast to previous years where large parts of the price increase occurred in February and July. Fresh salmon is one of the goods that has risen the most in price. Photo: Gorm Kallestad / NTB Prices have risen by 6.4 per cent From April last year to April this year, prices rose by 6.4 per cent. This is shown by the consumer price index which was presented today by Statistics Norway. The index is an overview of the price increase of goods and services purchased by households. It is the average of changes in all price categories that is reflected in the CPI. Core inflation rose by 6.3 per cent in the same period. – Price growth is still high, but in recent months we have seen signs of a flattening, says section manager Espen Kristiansen at Statistics Norway. The consumer price index is often used as a measure of inflation. The change in April is 0.1 percentage points lower than what was measured in March. From March last year to March this year, prices in Norway rose by 6.5 per cent, according to Statistics Norway. Influence from abroad The price increase has been high for both Norwegian and imported goods. In the last six months, the price increase on Norwegian-produced goods has been somewhat lower, but the price increase on imported goods is still rising. – The Norwegian goods are also affected by international price impulses, but the imported goods are more directly exposed to international conditions and the krone exchange rate, says Espen Kristiansen. Historically high interest rate Last week, the central bank raised the key interest rate from 3 to 3.25 per cent. This is the highest interest rate level in 15 years. Changes in the key interest rate affect activity in the economy, and therefore also inflation. Norges Bank wishes to keep inflation stable at 2 per cent. One of the tools they have to curb price inflation is to adjust the key interest rate.
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Prices have risen by 6.4 per cent in the past year – news Norway – Overview of news from various parts of the country
