Sweden Inflation Confirmed At 6-month Low

(RTTNews) - Sweden's consumer price inflation moderated as initially estimated in November to the lowest level in six months, the latest data from Statistics Sweden showed on Thursday.

The consumer price index, or CPI, rose 0.3 percent year-over-year in November, slower than October's stable increase of 0.9 percent.

Further, this was the slowest inflation rate since May, when prices rose only 0.2 percent.

"Interest expenses contributed to a lower inflation rate in November," Frida Stark, statistician at Statistics Sweden, said.

Data showed that the consumer price index with a fixed interest rate, or CPIF, also increased at a slower pace of 2.3 percent annually in November versus 3.1 percent in October, confirming the flash data.

Nonetheless, the inflation has continued to remain above the Riksbank's target of 2.0 percent.

The annual price growth in food and non-alcoholic beverages eased to 3.1 percent from 3.7 percent. Meanwhile, the price decline in housing and utilities deepened to 3.1 percent from 1.9 percent. Data showed that transport charges continued to fall slightly by 0.1 percent.

Month-on-month, consumer prices dropped by 0.4 percent, as estimated, reversing a 0.3 percent increase in October.