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Prime Minister Jonas Gahr Støre is confident that this year people will see an improvement in the economy. – He says a turning point is happening.
Støre made his promise to improve people’s private financial situation during a speech at the AUF summer camp on Utoya on Saturday.
– Price inflation is falling back to normal levels. Eventually interest rates can be lowered too. After a decade of flat wages, people will see real wages grow this year. In other words: a turning point is happening. This year, people will get better advice, Stoll said.
Data from Statistics Norway in June showed that price growth over the past year was 2.6%. It has not been this low in a year. Chief economists are divided on whether the slowdown in price growth will lead to a rate cut this year or will have to wait until next year.
In June, central bank Governor Ida Wolden Bache said she did not expect to cut the policy rate in 2024.
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