10 June 2024 at 08:00 SSB: Price growth fell to 3 per cent in May The Consumer Price Index (CPI) was 3.0 per cent higher in May 2024, compared with May 2023. This is shown by figures from Statistics Norway. – Price inflation falls for the fifth month in a row. Since December last year, the twelve-month growth in the CPI has gone from 4.8 per cent to 3.0 per cent in May. In the last month, it is electricity prices in particular that are driving price growth down, says Espen Kristiansen, head of section at Statistics Norway. Food prices have risen by 5.4 per cent from May 2023 to May 2024. Price growth has thus fallen since April, when the twelve-month growth was 6.8. The prices of cars also contributed to pulling the overall price increase down in May. Very low new car sales may have contributed to lower prices. – Car prices fell by 2.1 per cent from April to May. It is the biggest monthly price drop we have seen for cars since the 90s, says Kristiansen. Prime Minister Jonas Gahr Støre (Ap) views the development positively. – The government’s aim is for people to get better advice. It is good that price inflation continues to fall while unemployment remains low, he says.
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