Prices in Norway rose again in November, new data shows

Prices in Norway rose by 0.7% from November last year to November this year, according to Statistics Norway (SSB).

From November 2019 to November 2020, the consumer price index (CPI) rose by 0.7%.

Beforehand, a price increase of 1.7% was expected compared to November last year, according to estimates obtained by Bloomberg, newspaper DN reports.

The price development of food contributed the most to the rise of 0.7%. Food prices rose by 4.0% during the period.

Prices for housing, lighting, and fuel fell the most, by 4.6% in the last year, while clothing and footwear fell by 3.8%.

Decline from October to November

According to SSB, a month before, from October to November, prices fell by 0.7% – a more substantial decline than normal for the period. Electricity prices, in particular, contributed to the decline. 

Electricity prices, including grid rent, fell by 9.8% in November. Prices for passenger transport by air fell by a total of 16.9% in November. 

Furthermore, lower prices were also registered for furniture, furnishings, and decorative items.

In November, a somewhat larger drop in prices was registered for hotels, restaurants, and bars – in particular as a result of the shutdowns that were introduced at the beginning of the month in Oslo and other parts of the country.

Prices of food and non-alcoholic beverages fell by 0.5% from October to November.

© NTB Scanpix / #Norway Today