Sweden: Inflation ebbs in July from June
Latest reading: Consumer prices with a fixed interest rate (CPIF) rose 0.7% on a year-on-year basis in July, following a 1.3% increase in the previous month. July’s reading was the weakest since December 2020.
Relative to the prior month’s figures, there were reduced price pressures for housing, water, electricity, gas and other fuels (+2.3% in annual terms vs +4.0% in June), transportation (+0.4% vs +3.5% in June) and food and non-alcoholic beverages (-7.2% vs -6.8% in June).
Meanwhile, core consumer prices—which exclude energy costs as well as the effect of interest-rate changes—rose 0.6% on a year-on-year basis in July, following a 0.4% increase in the previous month.
Lastly, consumer prices with a fixed interest rate declined 0.31% in July in month-on-month terms, following a 0.34% increase in the prior month.