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Research Reveals Norway Has the Highest Cost of Items

Society 31 January 2022 By

According to the research by Merchant Machine, Norway has been ranked as the country with the highest cost of items. After analysing the data, in Norwegian Krone, the cost of a loaf of fresh white bread amounted to KR 28, equivalent to £2.43. The cost of a litre of milk is KR 18.79 – in pounds, which is £1.63. Even the cost of a domestic 0.5-litre draught beer in a restaurant is the highest among all countries analysed, at KR 89.8 (£7.79).

Other Nordic countries made it to the top 15 of the most expensive countries despite having low inflation rates, with Iceland in 2nd, Denmark in 5th, Sweden in 8th and Finland in position 11th.

The UK landed in position 21st, with a low inflation rate of 2.9%, with moderate costs for a loaf of fresh white bread (£1) and a litre of milk (£0.92). The cost of a beer is around £3.8.

COUNTRY INFLATION RATE SEP-OCT 2021 (%) COST OF LOAF OF WHITE BREAD (IN LOCAL CURRENCY) COST OF LOAF OF WHITE BREAD (£) COST OF 1 LITRE OF MILK (IN LOCAL CURRENCY) COST OF 1 LITRE OF MILK (£) COST OF 0.5 LITRE DRAUGHT DOMESTIC BEER (IN LOCAL CURRENCY) COST OF 0.5 LITRE DRAUGHT DOMESTIC BEER (£)
Norway 3.5 28 2.43 18.79 1.63 89.8 7.79
Iceland 4.5 428.9 2.44 179.31 1.02 1198.9 6.82
Israel 2.5 7.3 1.74 5.92 1.41 29.4 7
Switzerland 1.2 2.8 2.3 1.6 1.3 6.5 5.25
Denmark 3 18.4 2.12 9.56 1.1 49.9 5.74
Canada 4.4 2.9 1.72 2.45 1.45 6 3.54
New Zealand 4.9 2.5 1.33 2.66 1.4 9 4.72
Sweden 2.8 22.1 1.9 11.41 0.98 68.9 5.92
South Korea 3.2 2964.2 1.86 2,454.22 1.54 3984.1 2.5
Luxembourg 3.6 2.4 2.09 1.25 1.07 5 4.27
Finland 3.2 2.1 1.79 0.96 0.82 6 5.13
The Netherlands 3.4 2 1.67 0.98 0.84 6.1 5.21
US 5.39 2.7 2.03 0.86 0.64 5 3.69
Australia 3 2.8 1.53 1.67 0.91 8 4.34
Austria 3.7 1.9 1.66 1.11 0.95 3.9 3.33