Financial News: Sweden Inflation Unrevised At 1.6%

Sweden Inflation Unrevised At 1.6%

12/12/2024 - 02:46:00 (RTTNews)

(RTTNews) - Sweden's consumer price inflation held steady as initially estimated in November, the latest data from Statistics Sweden showed on Thursday.

The consumer price index, or CPI, climbed 1.6 percent year-over-year in November, the same as in the previous two months. That was in line with the flash data published on December 5.

Data showed that the consumer price index with a fixed interest rate, or CPIF, increased at a faster pace of 1.8 percent annually in November versus 1.5 percent growth in the prior month, as estimated. Nonetheless, the inflation remained below the Riksbank's target of 2.0 percent.

Increased rentals and higher fees for tenant-owned apartments contributed to the overall inflation in November, the agency said.

Prices for food and non-alcoholic beverages grew 1.9 percent from last year, and those of recreation and cultural services grew by 1.89 percent. Meanwhile, transport costs declined further by 2.27 percent, led by an 18.0 percent slump in fuel prices.

Month-on-month, consumer prices increased 0.3 percent in November, following a 0.2 percent gain in October, as estimated.

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