Personal finance, Grocery | Now we spend more than NOK 1,000 more a month

Personal finance, Grocery | Now we spend more than NOK 1,000 more a month
Personal finance, Grocery | Now we spend more than NOK 1,000 more a month

It is costs for food and drink, other groceries and car maintenance that have increased the most in the last six months. At the same time, the price of childcare has fallen.

The food budget increases

– For an example family with two adults and two children, where one of the children goes to kindergarten, this adjustment means an increase in monthly costs of over NOK 1,100, says researcher and project manager Marthe Hårvik Austgulen at the Institute for Consumer Research SIFO.

Sifo’s reference budget and associated calculator have been updated with new figures from August 2022. It is the first time since the 1990s that new prices have been brought in twice a year.

Read also: Butter prices skyrocketing: – This does not follow any logic

Higher price growth

The reference budget shows what it costs to live at an acceptable consumption level for households of different sizes and with different age and gender composition. Expenses for housing and electricity are excluded.

The figures are normally updated once a year – in February. But as we have experienced significantly higher price growth in 2022 than in previous years, the reference budget has now been updated. It is based on the consumer price index, but updated prices have also been collected for certain consumption areas.

The reference budget has been updated annually since 1987. It is used by the public sector, banks and private individuals. Among other things, it is used to determine child support and as a basis for granting loans. Many uses

The article is in Norwegian

Norway

Tags: Personal finance Grocery spend NOK month

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