Six in ten Norwegians disagree with Norges Bank’s assessment that wages have risen faster than prices over the past two years, resulting in increased purchasing power, according to a new survey.
The survey was conducted by Opinion on behalf of Gudbrandsdal Energi and included 1,000 respondents.
Participants were asked: “Norges Bank says that wages have risen faster than prices over the past two years, giving most people greater purchasing power and a greater ability to service their debt. Does this description reflect your own financial situation?”
Thirty-three per cent said they strongly disagreed, while 26 per cent said they somewhat disagreed. Fourteen per cent agreed with the description, while 22 per cent answered that they neither agreed nor disagreed.
On Thursday, Norges Bank raised its key policy rate to 4.5 per cent. Governor Ida Wolden Bache said that despite lower inflation, household purchasing power is expected to continue improving, including after taking higher borrowing costs into account.
Among households with an annual income above NOK 1.5 million, 25 per cent of respondents agreed with the statement. Among those with an annual income below NOK 600,000, the figure was just 11 per cent.