Sweden: Inflation rises in May
Consumer prices in Sweden rose 0.2% on a month-on-month basis in May according to data released by Statistics Sweden (SCB), down from April’s 0.4% increase. The SCB’s data showed that May’s price rise was driven by higher prices for food and non-alcoholic beverages, transport and health.
The CPI with interest rates held constant (CPIF) rose from 1.9% in April to 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 1.7% in April to 1.9% in May, while annual average inflation in May remained at 1.8%.