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Financial News: Sweden Inflation Unexpectedly Slows In August

Sweden Inflation Unexpectedly Slows In August

09/14/2018 - 04:13:00 (RTTNews)

(RTTNews) - Sweden's consumer price inflation slowed for the first time in four month in August, defying expectations for a modest increase, preliminary data from Statistics Sweden showed Friday.

The consumer price index rose 2 percent year-on-year following 2.1 percent gain each in both June and July. Economists had forecast 2.2 percent inflation for August.

On a month-on-month basis, the CPI declined 0.2 percent after a 0.5 percent increase in July. The fall was the first since January.

The CPI with a fixed interest rate, or CPIF, which is the core inflation figure, rose 2.2 percent year-on-year in August same as in July. Economists had expected an acceleration to 2.30 percent.

The core inflation rate has been 2.2 percent since June. The figure is the highest since September last year, when it was 2.3 percent.

Compared to the previous month, the CPIF fell 0.2 percent after a 0.5 percent gain in July.

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