Sweden’s annual consumer inflation has eased to its lowest level since December 2020 in December last year.
The inflation rate slowed to 0.8% in December from 1.6% in the prior three months, the latest data by Statistics Sweden showed.
Market consensus had pointed to a lesser slowdown, to 1%.
Sweden’s consumer price index with a fixed interest rate (CPIF), Riksbank’s target variable for inflation, went up 1.5% year-on-year in December. It has slowed from 1.8% YoY in November, or the highest rate since May.
The flash data implied there could be room for two more interest rate cuts by the Riksbank this year.
The Swedish Krona was 0.16% weaker on the day against the Euro, with the EUR/SEK currency pair last trading at 11.5108.
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