Sweden: CPIF accelerates again in February
Consumer price inflation with a fixed interest came in at 9.4% in February, up from January’s 9.3%, and moving further above the Riksbank’s 2.0% target. Looking at the details of the release, the acceleration was driven by prices for housing, water, electricity, gas and other fuels and food and non-alcoholic beverages rising at stronger paces. Additionally, a weaker Swedish krona has fueled rising prices as well. February’s result adds pressure on the Riksbank to continue tightening its monetary policy stance at its next meeting in April.
Consequently, the trend pointed up; annual average inflation rose to 8.6% in February (January: 8.2%). Meanwhile, consumer price inflation rose to 12.0% in February, from January’s 11.7%.
Lastly, consumer prices with a fixed interest rate increased 0.93% in February over the previous month, swinging from the 1.30% drop logged in January.