Norway's Inflation Up by 6.3% Year-on-Year, Hits Record Since 1980
MURMANSK (Pakistan Point News / Sputnik - 11th July, 2022) Commodity prices in Norway rose by 6.3% year on year, the highest rate since 1980, Statistics Norway (SSB) data shows.
The largest increase in prices was recorded in May and June and amounted to 0.9%, the statistics agency said, as cited by the NRK broadcaster on Monday.
"This is unprecedented growth.
Similar figures were recorded in the 1980," Espen Kristiansen, the section manager at SSB, said, as quoted by the NRK.
Support for the energy industry held back the overall growth, otherwise the prices could have risen by 8.2%, according to Kristiansen.
The SSB noted that the inflation in May reached 3.6%, which is also a record figure since 1995. food and electricity prices see the sharpest increase.