Today in Norway For Members

Today in Norway: A roundup of the latest news on Friday

Frazer Norwell
Frazer Norwell - [email protected]
Today in Norway: A roundup of the latest news on Friday
Find out what's going on in Norway on Friday with The Local's short roundup of important news. Pictured is one of Norway's many spectacular fjords. Photo by Shinjan Bhattacharya on Unsplash

Figures reveal how much household expenses have risen and school exams to go ahead despite teachers' strike disruption, plus other news from Norway on Friday. 


Consumers more concerned with energy bills than high-interest rates

Energy and food prices are more concerning for consumers in Norway than rising interest rates, a survey carried out by Sparebank 1 has revealed. 

On Thursday, Norges Bank announced it would raise the interest rate by 0.5 percentage points to 2.25 percent. 

According to the survey, three-quarters of respondents had taken action to deal with the cost of living increases across the board. 

Norwegian newswire NTB reports that 52 percent are worried about the high electricity bills, 46 percent about the high food prices, and 41 per cent are concerned about high-interest rates. 


Tests to go ahead despite teachers' strike disruption

National tests will not be postponed, despite the ongoing strike's disruption of students' education. 

Nationwide exams are mandatory testing of pupils' skills in reading, arithmetic and English in the fifth, eighth and ninth grades.

In Bergen, several schools have told the newspaper Bergens Tidende that they will struggle to be able to carry out the tests by the deadline of Friday next week. 

"In several schools, we see that it is difficult to achieve this (testing). If the students come back this week, it may be possible, but in the schools that are hardest hit by strikes, it may not be wise and appropriate," Frode Nilsen told the paper. 

Still, the Education Directorate has said it would not extend the deadline and that tests will go ahead. 

Household expenses for typical household risen by around 1,100 kroner per month

The expenses for a typical Norwegian family have risen by around 1,100 kroner per month, according to researchers at the analysis institute Consumption Research Norway (SIFO). 

Costs for food, other groceries and running a car have increased over the last six months. However, the cost of childcare has fallen. 

SIFO said that it had to update its reference budget for households twice this year, the first time since the 1990s that it has done so. 

Interest rates could dampen the housing market

Norway's association of estate agents has warned that recent interest rate jumps will lead to a sharp drop in home sales and house building. 

"If interest rates are raised too quickly, and too much, unemployment can become so high, and purchasing power so weakened that it triggers a housing recession in the form of a sharp drop in housing sales and housing construction", managing director of the Norwegian Real Estate Association, Carl O. Geiving, said.

READ ALSO: The hidden extra costs when buying property in Norway


Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also