As of May 1, prices at Vinmonopolet will increase by 2.4 per cent. The depreciation of the Norwegian krone against the dollar and euro is one of the reasons.
Since the previous price increase in January, the corona crisis has facilitated the increase of both the dollar and the euro exchange rates, Nettavisen writes. This makes it more expensive to buy in Norwegian currency. The weakening of the krone exchange rate means that Vinmonopolet’s approximately 500 suppliers are announcing increased prices.
“Our base selection receives a price increase of 2.3 per cent, while our order selection increases in price by 2.5 per cent. The average increase is 2.4 per cent,” says Jens Nordahl, Communications Manager at Vinmonopolet.
Nordahl believes this is a relatively normal price increase, and about as one would expect when the Norwegian krone depreciates. He also believes that price growth is less than it could have been, as several European wineries now have larger stocks of wine and have had to cut prices.
The last price increase was on January 1st, which was by 1.5 per cent since the previous price increase on September 1st 2019.
© NTB Scanpix / #Norway Today
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