Oslo living gets cheaper / News / The Foreigner

Oslo living gets cheaper. Costs of living in the Nordic city are decreasing. Oslo also ranks lower regarding quality of living in comparison to its Scandinavian cousins, surveys show. While Oslo came 38th in Mercer’s Cost of Living survey in 2015, this year’s rankings saw it fall 21 places to 59th – from 2011 to 2014, the Scandinavian city’s respective positions were 15th, 18th, 11th, and 20th. The main reason for this year’s fall was the Norwegian Krone losing significant value against the US dollar.

oslo, cost, living, quality, paywall



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Oslo living gets cheaper

Published on Friday, 19th August, 2016 at 17:44 under the news category, by Michael Sandelson   .
Last Updated on 6th September 2016 at 12:27.

Costs of living in the Nordic city are decreasing. Oslo also ranks lower regarding quality of living in comparison to its Scandinavian cousins, surveys show.

Oslo skyline
Oslo skyline
Photo: Pixabay/Public Domain


While Oslo came 38th in Mercer’s Cost of Living survey in 2015, this year’s rankings saw it fall 21 places to 59th – from 2011 to 2014, the Scandinavian city’s respective positions were 15th, 18th, 11th, and 20th.

The main reason for this year’s fall was the Norwegian Krone losing significant value against the US dollar.

Figures from Norway’s Central Bank (Norges bank) show the USD-NOK exchange rate was 8.13 in July 2015, peaking to 8.83 at the start of this year (rounded up). July 2016 saw the rate at 8.46 (rounded down).

Up and down

“Despite some marked price increases across the region, several local currencies in Europe have weakened against the US dollar which pushed a few cities down in the ranking,” Nathalie Constantin-Métral, Principal at Mercer with responsibility for compiling the survey ranking, explained in a statement.

Inflation/deflation of goods and services affect the rankings too, which consider ten categories.

These are:           

Food at home
Alcohol and Tobacco
Domestic Supplies
Personal Care
Clothing and Footwear
Home Services
Utilities
Food away from home
Transportation
Food and Leisure

Figures from Statistics Norway (SSB) show that the Consumer Price Index (CPI) rose 0.6 per cent from June to July – which was after Mercer compiled and published their survey.

Food and non-alcoholic beverages showed the largest increase, at 2.9 per cent, while prices for clothing and footwear dropped the most – by -2.4 per cent.

Oslo is also the second-most expensive city in the Nordic Countries surveyed, with Copenhagen, Helsinki, and Stockholm coming 24th, 64th, and 84th, respectively.

Other European cities which outstrip Oslo on living costs include Zurich (3rd), London (17th), Paris (44th), Milan (50th), and Vienna (54th).

Better abroad

At the same time, Oslo trails other Nordic capitals regarding quality of living. Copenhagen and Stockholm were ranked 9th and 19th, respectively.

Again, Mercer considered ten categories when making their assessment of 450 cities worldwide:

Political and Social Environment
Economic Environment
Socio-cultural Environment
Medical and Health considerations
Schools and Education
Public Services and Transport
Recreation
Consumer Goods
Housing
Natural Environment

Linnéa Molin, Mercer’s Mobility Expert – Nordics and Eastern Europe, explains that the ranking is relative, and that “quality of living is impacted by the environment in the country of interest according to the criteria below, as well as the development in other countries.”

Why does Oslo come lower than Copenhagen and Stockholm?

“The variations are very small and on some factors Oslo scores higher or the same as Stockholm / Copenhagen. The factors are given different weights and it is not possible to pin-point one single reason to the fact that Oslo ranks lower. Examples of areas where Stockholm and Copenhagen ranks higher or the same as Oslo are: recreation, political and social environment and natural environment.”

Ms Molin also points out that the differences are small within all factors. And Helsinki tied with Oslo in 30th position.

“In most areas, Oslo ranks the same as Helsinki, such as Economic Environment, Socio Cultural Environment, Schools and Education, Public Services and Transport, Consumer goods and Housing. Oslo is ranked higher than Helsinki in terms of natural environment, and lower in terms of political and social environment, and medical considerations,” comments Ms Molin.

Vienna, Zurich, Paris, London, and Milan were ranked 1st, 2nd, 37th, 39th, and 41st, respectively. 209 cities were considered here.

The Mayor of Oslo’s Office did not respond to requests by the Foreigner for comment about the survey.

Mercer describes themselves as a leading global consulting firm regarding talent, health, retirement, and investments.




Published on Friday, 19th August, 2016 at 17:44 under the news category, by Michael Sandelson   .
Last updated on 6th September 2016 at 12:27.

This post has the following tags: oslo, cost, living, quality, paywall.





  
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