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Financial News: Sweden Producer Prices Rise Most In 14 Months

Sweden Producer Prices Rise Most In 14 Months

06/26/2024 - 03:42:00 (RTTNews)

(RTTNews) - Sweden's producer prices increased for the second straight month in May, and at the fastest pace in more than a year, despite a continued fall in energy prices, figures from Statistics Sweden showed on Wednesday.

The producer price index climbed 2.6 percent year-on-year in May, following a 0.9 percent gain in April.

Further, this was the quickest increase since March 2023, when prices had risen 3.5 percent.

The annual rate of the producer price index, excluding energy-related products, showed an increase of 3.8 percent.

Prices in the domestic market grew by 1.7 percent in May.

Prices of consumer goods rose 4.5 percent, and those of capital goods climbed 5.2 percent. Meanwhile, costs for energy-related goods continued to drop by 3.8 percent.

Monthly, producer prices remained flat in May, versus a 0.5 percent rise seen in April.

Data also showed that import prices moved up 3.2 percent annually, and the export price index was 3.3 percent higher.

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