Norway records highest price increase since 1988

Norway has seen a record price increase since 1988 over the past year, which amounted to 5.7%, according to the Norwegian Statistical Bureau, Report informs referring to NRK TV company.

The country’s economy is showing a historically high performance due to military operations in Ukraine and other global challenges.

According to the bureau’s calculations, by May the price increase was 5.7% compared to May last year. At the same time, if the government had not compensated for part of the cost of electricity, the growth would have been 7.7%. This situation is associated with rising prices for electricity and fuel, as well as for a number of goods and services.