Inflation in Sweden hits the highest in three decades.
The inflation in Sweden It has soared to double digits for the first time in more than thirty years, driven by rising electricity and food prices, it said Friday. Statistics Sweden.
Swedish inflation adjusted for fixed interest rates (CPIF), the measure used by the country’s central bank, jumped to 10.2% annually in December, from 9.5% in November. The figures are higher than the 9.1% rate projected by the Riksbank and the 9.8% forecast by economists.
While inflation is cooling in some euro area countries, Sweden continues to experience accelerating price increases, now reaching the highest level since 1991.
The consumer price index (CPI) accelerated to 12.3%, compared to 11.5% in November. That was driven by record electricity prices, which rose 28% in December compared to the previous month and 45.3% compared to a year earlier, official figures showed.
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“The fact that inflation, excluding energy prices, surprises to the upside again relative to the Riksbank forecast gives the overall impression that little progress has been made so far in curbing inflation,” the senior economist said. from Svenska Handelsbanken AB, Johan Lof.
On an annual basis, the prices of food and non-alcoholic beverages increased 18.2%, while furniture and household items increased 16.3%. Consumer prices advanced 2.1% in monthly terms, which represents the biggest gain since January 1993.
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