Sweden: Inflation rises again in June, CPIF inflation stays within the Bank’s target band
Consumer prices in Sweden rose 0.2% on a month-on-month basis in June according to data released by Statistics Sweden (SCB), matching May’s figure. The SCB’s data showed that June’s price rise was driven by higher prices for housing, water, electricity, gas and other fuels; transport; and recreation and culture.
The CPI with interest rates held constant (CPIF) rose to 2.2% in June from 2.1% in May, a smidgeon above the Riksbank’s 2.0% target but firmly within the 1.0%-3.0% tolerance band. Inflation increased from 1.9% in May to 2.1% in June, while annual average inflation ticked up from 1.8% to 1.9%.