Financial News: Swedish Inflation Confirmed At 0.3%

Swedish Inflation Confirmed At 0.3%

(RTTNews) - Sweden's consumer price inflation increased slightly in August, as estimated initially, the latest data from Statistics Sweden showed on Monday.

The consumer price index, or CPI, rose 0.3 percent year-over-year in August, following a 0.2 percent increase in July, which was the lowest inflation rate in three months. That was in line with the flash data published on September 7.

Inflation based on the consumer price index with a fixed interest rate remained stable at 0.7 percent, confirming the preliminary figures.

"Lower food prices reduced the inflation rate in August but were partly offset by higher prices for electricity and fuels," Frida Stark, a statistician at Statistic Sweden, said.

Inflation based on housing and utilities rose to 2.6 percent from 2.3 percent, and transportation inflation climbed to 1.7 percent from 0.4 percent. Meanwhile, food prices continued to fall sharply by 6.6 percent, and clothing and footwear costs were 0.2 percent less expensive.

On a monthly basis, consumer prices dropped at a steady pace of 0.3 percent, as estimated.

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