Strong growth in Norway’s CPI

OSLO, July 10 (Reuters) – Core consumer prices in Norway rose by a bigger-than-expected 3.3 percent in the 12 months to June, up from the 2.9 percent annual rise in May, Statistics Norway data showed on Friday.

The rate far exceeded economists’ average expectation of an annual rise of 2.9 percent in a Reuters survey.

The central bank targets a rate for core inflation, adjusted for effects of changes in taxes and energy prices, of 2.5 percent in the medium term.

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