Sweden’s CPI inflation stable at near 3-year low

Sweden’s annual consumer inflation has remained steady at 2.6% in July, the latest data by Statistics Sweden showed.

It has been the lowest inflation rate since September 2021.

In comparison, market consensus had pointed to acceleration to 2.7%.

In July, inflation for food & non-alcoholic beverages remained stable, at 1.1%.

Conversely, inflation accelerated for:

– housing & utilities (6.3% YoY from 5.6% YoY in June);
– transport (1.1% YoY from 0.1% YoY in June).

And, prices decreased at a faster rate for:

– recreation & culture (-1.3% YoY versus -0.2% YoY in June);
– furnishings & household goods (-1.7% YoY versus -1% YoY in June).

In the meantime, Sweden’s consumer price index with a fixed interest rate (CPIF), went up 1.7% year-on-year in July, while picking up from 1.3% YoY in June.

The Swedish Krona was 0.30% firmer on the day against the US Dollar, with the USD/SEK currency pair last trading at 10.4212.