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Financial News: Sweden Inflation Highest Since October 2008

Sweden Inflation Highest Since October 2008

01/14/2022 - 06:53:00 (RTTNews)

(RTTNews) - Sweden's consumer price inflation accelerated in December, figures from Statistics Sweden showed on Friday.

The consumer price index rose 3.9 percent annually in December, following a 3.3 percent increase in November.

The latest inflation was the highest since October 2008, when prices rose 4.0 percent annually. Economists had expected a rise of 3.8 percent.

The major contribution came from higher prices for electricity, the agency said.

On a month-on-month basis, consumer prices grew 1.3 percent in December, following a 0.5 percent rise in the previous month. Economists had forecast an increase of 1.2 percent.

Inflation, based on the CPI with fixed interest rate or CPIF, increased to 4.1 percent in December from 3.6 percent in the preceding month. Economists had expected a 4.0 percent rise.

On a monthly basis, the CPIF gained 1.3 percent in December, following a 0.5 percent increase in the previous month. Economists had forecast a 1.2 percent growth.

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