10 November 2022 at 08:00 Prices have risen by 7.5 per cent Prices in Norway were 7.5 per cent higher in September than a year ago. From September to October, prices rose by 0.3 per cent, according to the consumer price index of Statistics Norway (SSB). The strongest growth is in food products and non-alcoholic beverages, which are up 13.1 per cent in one year. The price increase in recent months is the fastest since the 1980s. Norges Bank has a target that prices should not rise by more than two per cent a year (the inflation target). The policy interest rate has therefore been raised quickly to bring down the price increase. An important measure of price increases is core inflation, which is the price increase excluding taxes and energy prices. This is 5.9 per cent in the past year.
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