Sweden's Inflation on the Rise: July Sees Uptick
In July, Swedish headline consumer prices rose by 0.3% from June and increased 3.0% year-on-year, according to statistics from SCB. Exclusive of energy prices, inflation stood at 3.2%. These figures are above the central bank's 2% target, but align with analyzed forecasts.
Swedish headline consumer prices experienced a 0.3% increase in July compared to June, and were up 3.0% from a year earlier, according to flash figures released by the statistics office (SCB) on Thursday.
When excluding volatile energy prices—a metric receiving close attention from the Riksbank—inflation was 3.2% compared to the previous year. The central bank has set a target inflation rate of 2%.
Analysts in a Reuters poll predicted headline inflation would be 3.0%; when excluding energy, they foresaw 3.2%, on par with July 2024. The Riksbank's forecast anticipated a 2.5% headline annual inflation, with an ex-energy rate of 2.8%.
(With inputs from agencies.)
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