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Grocery chains cut their prices

Norwegian grocery chains have cut their prices in order to compete against the German chain Lidl that is expected to open stores in Norway soon.

Six of the seven of the grocery chains TV 2 Nettavisen has checked have decreased their prices in November. Meats, dry goods, fruit and vegetables have become on average become cheaper. Some stores have decreased the prices on all their goods.

“It is apparent that with more low priced chains on the market, it may lead to a more price cuts on some goods,” said Olav Thorstad, market director of the food store chain Meny, to TV 2 Nettavisen. “All new competitors put us more on our toes.”

Meny is one of the stores that has made the greatest cuts, reducing the prices with nearly 5 percent the last month.

No great difference

Even if most chains offer a price cuts, the customers are not likely to notice much of a different, because the price cuts in November arrives after a continuous price increase during the summer and the fall. The result is that the price level is back where it was in June and July.

According to the standard budget compiled by the National Institute for Consumer Research (SIFO), a Norwegian family of four uses NOK 48,864 (USD 6980) annually on food, while a single man will in average use NOK 19,560 (USD 2794) annually, and a single woman NOK 14,520 (USD 2074).

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