Financial News: Swedish Producer Prices Unexpectedly Fall 0.1%

Swedish Producer Prices Unexpectedly Fall 0.1%

08/27/2024 - 03:50:00 (RTTNews)

(RTTNews) - Producer prices in Sweden decreased unexpectedly for the first time in four months in July, though marginally, figures from Statistics Sweden showed on Tuesday.

The producer price index dropped 0.1 percent year-on-year in July, reversing a 0.8 percent rise in June. Meanwhile, economists had expected the rate to rise by 1.2 percent.

The annual rate of the producer price index, excluding energy-related products, showed an increase of 0.8 percent.

Meanwhile, prices in the domestic market grew at an accelerated pace of 1.4 percent versus a 0.4 percent increase in June.

Costs for energy-related goods continued to drop by 7.1 percent. Meanwhile, consumer goods prices rose 1.4 percent, and capital goods prices climbed 1.1 percent.

Monthly, producer prices dropped 1.4 percent in July after falling 0.4 percent in the prior month.

Data also showed that import prices declined 2.2 percent annually, and the export price index was 1.7 percent lower.

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