Posted: 11.07.2022 16:10:00

Inflation in Norway reached record level over past 34 years

Over the year, prices for goods and services in Norway increased by an average of 6.3 percent – a record inflation rate for the country since 1988, TASS reports


According to Espen Kristiansen, a representative of the Norwegian Central Bureau of Statistics, inflation in June was primarily driven by an increase in fuel and food prices (+2 percent over the last month). In June 2022, the price of A-95 gasoline in Norway for the first time in history was set at the level of 27 Kroners (approximately $2.97) per litre.

Record inflation over the past decade has also been recorded in other European countries, including Poland, Spain and France.

Earlier it became known that the risk of recession in Europe has increased to 40 percent.