While all of the borders to Norway got closed. The much higher grocery store shopping internally in Norway should have reduced the grocery prices. But instead, all of the food grocery prices in Norway actually increased by 4.9 percent. With almost no one in Norway going to Sweden anymore for shopping cheap food and Norwegian grocery stores getting the highest income in many years. The prices should have gone down. But that’s, not the fact.
It is for me really interesting to witness such a big increase in Norwegian grocery prices. The Wuhan virus times have changed thousands of Norwegians habits in how they are buying their groceries. But this increase doesn’t make sense to me, and so its a quite shock to see that they have increased by 4.9 percent.
With the new static figures from Statistics Norway (Statistics Norway) giving the public data on whats increased. The 4.9 percent grocery increase is a shock. They also show that the biggest rise beside the grocery prices was the prices of cars in Norway, which increased by 2.2 percent in May 2020.
Prices went up a lot in May 2020 in Norway
It seems that despite Norwegians increasing in buying things during the Wuhan virus times. The fact is rather scary. All prices of electricity, clothing, alcoholic drinks, as well as maintenance and repair at the workshop also contributed to the rise in May. Everything went in the opposite direction of what I thought would happen. One of the causes that are mentioned in the travel restrictions.
Food was the largest increase in prices during May, with a price increase of 4.9 percent during this period of the Wuhan virus times. This is the highest inflation in six years, according to one of Norways most known Economic newspapers.
Whats going on in the Norwegian grocery market?
I question this increase in prices as all of the Norwegian grocery stores which especially include those ones near the Swedish border. They’ve all had one of the best times in many years because of Norwegians restrictions in the ability to be able to travel to Sweden. There is absolutely no sense in why the grocery stores in Norway should increase their prices. They should rather decrease them.
The only challenger to the 3 humongous grocery chain owners in Iceland and Bunnpris. I really suggest to all of you to support them so that the competition in the Norwegian grocery market can adjust itself for the better. They have different variations of grocery items, yet they also sell the most important products such as milk, fruits, and vegetables. Iceland’s entering the Norwegian market is loved by people but for them to survive. You need to go there often and give Kiwi, Rema 1000, Meny and Coop Extra competition.
The Norwegian grocery market lacks competition, so the 3 biggest ones can adjust the grocery prices as it fits them. I hope that one day the grocery store prices in Norway will go down. I really hope, because today they are too high.