Weak Currency to Lead High Inflation in Norway

Talking to TV2,  Enterprise Federation of Norway (Virke) political director Harald Andersen says everyone should expect a variety of goods from abroad to become more expensive. He also notes that even Norwegian goods can be more expensive, if Norwegian Kroner (NOK) remains weak in the long term.

NOK is now over 10 percent weaker than it was just three months ago. But it is unknown how quickly and how much both clothing and other imported goods price will change.

Andersen believes high competition in the retail sector is fierce and it may not be automatically reflected on consumer prices immediately. 

Also new cars can be expensive, but probably not as much as other goods, writes TV2.

A large percentage of the price consumers pay for a car consists of fees and fees do not increase because of currency depreciation. But electric cars which are exempt from free will be hard hit.

Food, which is mainly produced in Norway is not exception in terms of high price increase. Andersen points out there are imported ingredients in the production of these foods and this can lead to an abrupt price increase.

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