Financial News: Sweden Inflation Confirmed At 0.2%

Sweden Inflation Confirmed At 0.2%

(RTTNews) - Sweden's consumer price inflation moderated as estimated initially in July to the lowest level in three months, the latest data from Statistics Sweden showed on Thursday.

The consumer price index, or CPI, rose 0.2 percent year-over-year in July, following a 0.7 percent increase in June. That was in line with the flash data published on August 6.

Inflation based on the consumer price index with a fixed interest rate eased to 0.7 percent in July from 1.3 percent a month ago, confirming the flash figures.

"Lower electricity and fuel prices were offset by seasonally normal price increases in package tours and car rentals, among other things," Mikael Nordin, a statistician at Statistics Sweden, said.

Food prices continued to decline at a sharp rate of 7.2 percent annually in July. Inflation based on transportation eased notably to 0.4 percent from 3.5 percent, and that on housing and utilities softened to 2.3 percent from 4.0 percent. Health costs were 6.4 percent cheaper, while clothing and footwear prices rebounded 0.4 percent.

On a monthly basis, consumer prices decreased 0.3 percent versus a 0.4 percent rise in June, as estimated.

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