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Financial News: Sweden Producer Price Inflation Slows; Trade Balance Swing

Sweden Producer Price Inflation Slows; Trade Balance Swings To Surplus

08/27/2019 - 06:15:00 (RTTNews)

(RTTNews) - Sweden's producer price inflation eased for the fourth month in a row in July, figures from Statistics Sweden showed on Tuesday.

The producer price index climbed 2.0 percent year-on-year in July, following a 2.5 percent rise in June.

Prices on the export and import market grew by 2.5 percent and 0.6 percent, respectively.

On a monthly basis, producer prices rose 0.3 percent in July.

Separate data from the statistical office showed that the trade balance swung to a surplus of SEK 6.7 billion from a SEK 1.2 billion deficit in the same month last year.

Exports grew 13 percent year-on-year and imports rose 6.0 percent.

The non-EU trade balance showed a surplus of SEK 16.2 billion, while trade in the EU resulted in a deficit of SEK 9.5 billion.

Seasonally adjusted, the trade surplus slightly decreased to SEK 6.1 billion in July from SEK 6.3 billion in June.

For the January to July period, trade surplus was SEK 30.9 billion. Exports and imports grew by 9.0 percent and 3.0 percent, respectively.

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