Commodity prices are rising. Last week, Statistics Norway (SSB) came out with recent figures showing that prices in May were 6.3 per cent higher than last year. A major reason for the rise in prices was the increase in food prices. They increased by 5.6 percent from June 2021 to June 2022. Only from May to June this year did they increase by 2 percent, writes Statistics Norway. It is the product category frozen fruit that has had the largest increase in the last year. It has increased almost 22 percent from June last year. Soon after comes canned fruit and fruit-based products, which have had an increase of 21.2 percent. Fruit prices rose by 8.4 per cent. – An important point is the cost increase in the value chains. For example, the prices of things to be transported will be affected by increased prices for fuel and energy, says Trym Kristian Økland, chief consultant at Statistics Norway. Is it tempting with coffee? It has become 19 percent more expensive in the last year. Photo: Ida Titlestad Dahlback The price of the coffee cup The price of coffee has made a marked jump of 19 percent. The price of a cup of cocoa has increased by around 15.4 percent. If you want a hot drink these days, tea may be a more sensible choice, it has had a price drop of 0.8 percent, according to figures from Statistics Norway. – The raw material price of coffee has risen a lot since last year. This, combined with the fact that there is a general price increase in the rest of the world, in addition to the mentioned cost increases in the value chains, may be the reason why we see this increase, says Økland. On the other hand, the prices of soft drinks, such as soft drinks, have fallen by 9.5 per cent. The main reason for this is that the tax on non-alcoholic beverages was removed in July 2021. – Since the taxes fell away, the price level of soft drinks and soft drinks has remained at a relatively stable level, says Økland. The agricultural uprising can lead to higher prices in July – Such a large increase in food prices from May to June is unusual, said section chief of Statistics Norway, Espen Kristiansen to news. It is usually in February and July that you see the biggest changes in food prices. Then the suppliers can adjust the prices towards the food chains. When the figures for July are ready, the effects from this year’s agricultural settlement will be included in the figures. – From the first of July, the increased target prices from the agricultural settlement will play a role. New target prices have been agreed for several different products, such as grain, milk and potatoes, says Økland.
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These foods have increased the most in price – news Norway – Overview of news from different parts of the country
