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Norway’s Wage Growth Hits Highest Since at Least 2016
- Average monthly earnings rose 6.4% on year in third quarter
- Data backs expectations of one more key rate hike this year
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Norway’s average monthly salary increased in the third quarter at the fastest pace on record, likely feeding concerns about a potential wage-price spiral in the Nordic country.
Average monthly earnings increased by 6.4% from the same quarter a year earlier — the biggest annual jump for data dating back to 2016 — to 51,700 kroner ($4,600), Statistics Norway said in a statement on Thursday.