Sweden: Inflation falls to one-year low in December
January 12, 2012
In December, consumer prices increased 0.2% over the previous month, which mirrored the increase recorded in November and came in line with market expectations. According to Statistics Sweden (SCB), the reading was driven by rising prices in the housing category. Annual headline inflation fell from 2.8% in November to 2.3% in December, the lowest rate in 12 months, but remained above the Central Bank's (Riksbank) inflation target of 2.0%. Overall, inflation averaged 3.0% in 2011, well above the 1.2% observed in 2010. The Riksbank estimates inflation to average 1.5% in 2012 and 2.0% in 2013.