Why it might be worth doing a big shop in Norway before the end of January

Frazer Norwell
Frazer Norwell - [email protected] • 23 Jan, 2023 Updated Mon 23 Jan 2023 15:13 CEST
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It may pay to do your weekly shop before the turn of the month, according to an expert. Photo by Maddi Bazzocco on Unsplash

Over the next week, it might work out cheaper for consumers in Norway to stock up ahead of price rises expected in supermarkets from February 1st.

Supermarkets in Norway typically adjust their prices twice a year, once in February and once in July. In typical years this price adjustment isn't always immediately noticeable.

However, since last year supermarket chains have told consumers to expect increases of up to 10 percent on some products due to rising costs.

Professor Øystein Foros at the Norwegian Business School has told the Norwegian newspaper VG that it is probably worthwhile for consumers to stock up on products with a long shelf life before prices go up to save money in the longer run.

"Anything that has a long shelf life, you can save a lot of money by buying before February 1st. You should get to the store and buy what you need for Easter," he told VG.

It may also pay to be earlier if you do plan on stocking up, as prices may typically start going up shortly before February 1st.

Although, Foros did say that he was curious whether shops would hike prices before February 1st as there was so much scrutiny over shopping bills recently.

"Because they (supermarkets) know this is coming. I'm guessing they might not do it this year because there is so much attention on food prices, but it will be very exciting (to see)," he said.

He did add that this increased scrutiny may prevent supermarkets from increasing prices more than is necessary as they will be afraid of losing customers.

"When people follow the prices, the chains will be particularly careful with price increases where customers have alternatives. People are unlikely to stop buying coffee if prices go up, but for entrecôte (rib eye) prices, it doesn't take much before you jump on neck chops," he explained.

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Frazer Norwell 2023/01/23 15:13

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