Norges Bank believes that wages in Norway will increase more than prices
Norges Bank believes that wages will rise more than prices in the future.
“Our forecasts predict high employment, low unemployment in the years ahead, high activity in the economy, and that wages will rise faster than prices,” Central Bank Governor Ida Wolden Bache told Norwegian Broadcasting (NRK).
Prices have increased by 6.3% in the last year, figures from Statistics Norway show.
Prices continue to grow
Inflation over the past year was 0.6% higher than the twelve-month change in May, which was already very high.
“In June, it was first and foremost increased prices for fuel and food that gave us a further increase in the twelve-month growth. Food prices increased significantly,” section manager Espen Kristiansen at Statistics Norway (SSB) stated.
The price of food has increased by 5.6% in the last year. Meat and grain product prices have increased the most, by 9.4 and 5.2%, respectively. From May to June, food prices rose by 2%.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
