Financial News: Swedish Inflation Unrevised At 1.6%

Swedish Inflation Unrevised At 1.6%

11/14/2024 - 03:57:00 (RTTNews)

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

The consumer price index, or CPI, climbed 1.6 percent year-over-year in October, the same as in September. That was in line with the flash data published on November 7.

Data showed that the consumer price index with a fixed interest rate, or CPIF, increased at a faster pace of 1.5 percent annually in October versus 1.1 percent growth in the prior month, as estimated. Nonetheless, the inflation remained below the Riksbank's target of 2.0 percent.

Prices for food and non-alcoholic beverages grew 1.7 percent from last year, and those of recreation and cultural services grew by 5.0 percent. Meanwhile, fuel costs declined sharply by 22.2 percent.

Month-on-month, consumer prices increased at a stable rate of 0.2 percent in October.

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