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Financial News: Sweden Inflation Stable In February

Sweden Inflation Stable In February

03/12/2019 - 07:18:00 (RTTNews)

(RTTNews) - Sweden's consumer price inflation held steady in February, after slowing in the previous month, data from Statistics Sweden showed on Tuesday.

Consumer prices climbed 1.9 percent year-over-year in February, the same rate of increase as in January. Economists had expected the inflation rate to rise to 2.0 percent.

On a monthly basis, consumer prices increased 0.7 percent in February, after a 1.0 percent fall in the previous month. The rise was the biggest since February last year, when prices grew at the same pace.

The statistical office attributed the monthly increase to higher prices for food and non-alcoholic beverages, clothing and higher transport costs.

The inflation rate, according to the CPI with a fixed interest rate, or CPIF, eased to 1.9 percent from 2.0 percent in January. Economists had expected a 2.1 percent rise.

Meanwhile, electricity costs dropped 2.5 percent.

On a month-on-month basis, the CPIF went up 0.7 percent in February.

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