RTTNews - Wednesday, the Statistics Norway said in a report that consumer price annual inflation rose to 3% in May from 2.9% in April. Economists were expecting the annual rate to stay at 2.9%.

The CPI adjusted for tax changes and energy production climbed by a seasonally adjusted 0.2% on a monthly basis, taking the annual growth to 2.8%. in May.

The harmonized index of consumer prices increased 0.3% from April. Higher fuel and food prices contributed most to the increase in May. Meanwhile, EU harmonized annual inflation stood at 2.9%, the same rate as in April.

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