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Financial News: Sweden Inflation Eases Less Than Expected In May

Sweden Inflation Eases Less Than Expected In May

06/13/2017 - 04:05:00 (RTTNews)

(RTTNews) - Sweden's consumer price inflation eased at a slower-than-expected pace in May, after accelerating sharply in the previous month, figures from Statistics Sweden showed Tuesday.

The consumer price index climbed 1.7 percent year-over-year in May, below the 1.9 percent rise in April, which was the highest inflation since February 2012. Economists had expected the inflation to ease to 1.6 percent.

On a monthly basis, consumer prices edged up 0.1 percent from April, when it grew by 0.6 percent. In contrast, it was forecast to drop by 0.1 percent.

Underlying inflation slowed marginally to 1.9 percent in May from 2.0 percent in the prior month. The expected inflation rate was 1.7 percent.

Month-on-month, underlying consumer prices increased 0.1 percent, while it was expected to decrease by 0.1 percent.

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