Inflation & Prices
Norwegian Grocers Reverse Price Hikes After Political Uproar
A customer shops inside the grocery store in Kongsberg, Norway.
Photographer: Terje Bendiksby/AFP/Getty ImagesThis article is for subscribers only.
Some of Norway’s leading grocers have reversed price hikes they made earlier this week after the moves sparked criticism from the government and probes into potential competition issues.
Rema 1000, which raised prices by an average of 4.8% on Feb. 1, will lower them to January levels despite “clearly higher” costs for electricity and raw materials, as well as supplier price hikes, Tom Kristiansen, managing director for the food retailer, said in a website statement on Thursday. Rema 1000 rival Coop will take a similar step on about 4,000 goods, daily VG reported its spokesman Bjorn Takle Friis as saying.