Sweden: Inflation remains stable in February
Consumer prices in Sweden rose 0.7% on a month-on-month basis according to data released by Statistics Sweden (SCB). This contrasted January’s 0.8% drop and was in line with market expectations. The SCB’s data showed that February’s rebound was driven by higher prices for clothing and footwear, energy and transport.
Inflation remained stable from January at 1.6%. As a result, inflation remained slightly below the Riksbank’s 2.0% target, but firmly within the 1.0%-3.0% tolerance band. Meanwhile, annual average inflation came in at 1.8% for the fifth consecutive month. The CPI with interest rates held constant (CPIF) was 1.7% in February, matching January’s figure.