Sweden: Inflation accelerates in May from the prior month
Latest reading: Consumer prices with a fixed interest rate (CPIF) rose 1.5% on a year-on-year basis in May, following a 0.8% rise in the previous month.
Relative to the previous month’s figures, there were higher price pressures for housing, water, electricity, gas and other fuels (+2.6% on a year-on-year basis vs -0.1% in April) and transportation (+6.0% vs +5.2% in April). In contrast, price pressures reduced for food and non-alcoholic beverages in May (-6.2% vs -5.7% in April).
Meanwhile, core consumer prices—which exclude energy costs as well as the effect of interest-rate changes—were up 0.5% in annual terms in May, following a flat reading in the previous month.
Finally, consumer prices with a fixed interest rate increased 0.89% in May on a month-on-month basis, following a 0.59% fall in the prior month.