Friday, 3 December 2021

Norway’s 2018 inflation seen at 2 pct

norway

OSLO: Norwegian inflation is forecast to accelerate in 2018 to 2.0 percent for the year from 1.8 percent in 2017, a publicly appointed commission said on Monday, pointing to higher wage growth in the coming year.

With members from labour unions, employers’ federations and Statistics Norway, the commission is a key part of the preparations for Norway’s annual round of collective bargaining, which is due to start in March.

Overall, Norwegian wages grew by 2.3 percent on average in 2017 and manufacturing pay rose by 2.5 percent, the commission said. The central bank late last year predicted that wages will rise by 2.9 percent in 2018.

“Norwegian industry appears headed towards better times, which will likely also be reflected in how wages develop,” wage commission Chairman Aadne Cappelen told a news conference.

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