Prices in Norway rose moderately in April

The consumer price index (CPI) rose by 0.3% from March to April 2021. The rise was limited by a fall in food and non-alcoholic beverage prices.

The authorities’ measures to limit the corona pandemic continue to affect price developments, the overview from Statistics Norway (SSB) shows.

Prices for the operation of personal transport vehicles rose by 1.3%, contributing most to the rise. The estimated prices of passenger transport by air rose by 6.9% last month, mainly due to the prices of international flights and package tours.

Book prices rose by as much as 16.4%, returning to January levels.

Prices of food and non-alcoholic beverages fell by 0.9% in April, which can be attributed to high supply activity at several chains. Clothing prices also fell last month. In the last year, food prices have fallen by 2.1%.

Food prices

“The fall in food prices in the last 12 months must be seen in connection with the absence of Easter offers in April last year,” senior adviser Ragnhild Nygaard at the SSB noted.

The prices of electricity, including grid rent, contributed most to the twelve-month growth in the CPI, with an increase of as much as 51.5% compared with April last year.

The twelve-month growth in core inflation (CPI-ATE), the figure that Norges Bank looks at when setting interest rates, amounted to 2.0% in April, down from 2.7% in March.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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