The development in energy prices is what is pulling down, according to Statistics Norway. Growth in electricity prices has slowed in recent months. Although price inflation is somewhat down, prices are increasing a lot also in a historical perspective. The strongest price increases are for food, furniture, hotels and restaurants and cars. – In particular, wage growth will determine how quickly price inflation will fall. But the peak of the sharp price rise has been reached, says Nordea’s chief economist Kjetil Olsen. An interest rate jump to the price increase is very important when Norges Bank is considering further interest rate increases. Everything indicates that there will be another interest rate jump in December, but then it may stop. – Things are getting worse in the Norwegian economy, and this may contribute to Norges Bank stopping raising interest rates after the December meeting, says Nordea’s chief economist Kjetil Olsen to news. THE TOP HAS BEEN REACHED: There will be another interest rate increase in December, but it may be the last this time around, says Nordea chief economist Kjetil Olsen. Photo: Vidar Ruud But he emphasizes that there is great uncertainty about how the interest rate will develop over the New Year. – But the December increase may be the last in this round, says Olsen.
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