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Financial News: Sweden Inflation At 14-Month Low

Sweden Inflation At 14-Month Low

07/11/2019 - 05:00:00 (RTTNews)

(RTTNews) - Sweden's inflation slowed to the lowest level in more than a year in June, Statistics Sweden reported Thursday.

Consumer prices increased 1.8 percent year-on-year in June, slower than the 2.2 percent rise seen in May. This was the lowest since April 2018, when inflation was 1.7 percent.

Similarly, inflation based on the consumer price index with a fixed interest rate, or CPIF, advanced 1.7 percent after rising 2.1 percent in May.

On a monthly basis, consumer prices fell 0.1 percent, reversing a 0.3 percent rise in May. The CPIF also dropped 0.1 percent.

Monthly fall in inflation was largely due to lower prices of clothing, electricity and fuels.

Data showed that the harmonized index of consumer prices climbed at a slower pace of 1.6 percent annually, following a 2.1 percent rise in May. Month-on-month, the HICP slid 0.2 percent.

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