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Financial News: Sweden Inflation Stable For Second Month; House Prices

Sweden Inflation Stable For Second Month; House Prices Fall In Q1

04/11/2019 - 04:15:00 (RTTNews)

(RTTNews) - Sweden's headline consumer price inflation was steady for a second consecutive month in March, while core price growth slowed, preliminary data from Statistics Sweden showed on Thursday.

The consumer price index rose 1.9 percent year-on-year, same as in January and February. Economists had expected the inflation rate to ease to 1.8 percent.

Inflation in March was largely driven by higher prices for food, clothes, and fuel. In contrast, prices of electricity, books, and package holidays fell.

Month-on-month, the CPI rose 0.2 percent in March following a 0.7 percent increase in February. Prices grew for a second straight month.

Core inflation, measured on the CPI with the fixed interest rate, or CPIF, slowed to 1.8 percent from 1.9 percent. The easing was in line with economists' expectations.

Compared to the previous month, the CPIF climbed 0.2 percent.

Separately, Statistics Sweden reported that house prices decreased 1 percent in the first quarter from the previous three months.

On a year-on-year basis, house prices were unchanged in the first quarter.

In March, house prices climbed 1 percent month-on-month, reversing a similar size decline in the previous month. House prices were unchanged in January. The latest increase was the first in seven months.

The agency also announced that household consumption grew 1.8 percent year-on-year and 0.2 percent monthly in February.

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