Financial News: Sweden Inflation Eases To 4.1%, Lowest In 26

Sweden Inflation Eases To 4.1%, Lowest In 26 Months

04/12/2024 - 06:47:00 (RTTNews)

(RTTNews) - Sweden's consumer price inflation softened more-than-expected in March amid lower food costs, data from Statistics Sweden showed on Thursday.

The consumer price index, or CPI, rose 4.1 percent year-over-year in March, slower than the 4.5 percent increase in February. Economists had expected inflation to ease slightly to 4.4 percent.

Further, this was the slowest inflation rate since January 2022, when prices had risen 3.7 percent.

Data showed that the consumer price index with a fixed interest rate, or CPIF, also increased at a weaker pace of 2.2 percent annually in March versus 2.5 percent growth in the prior month. The expected rate was 2.6 percent.

However, the inflation was still above the Riksbank's target of 2.0 percent.

Food prices dropped 0.7 percent annually in March, and communication costs also decreased the same.

Clothing and footwear prices were 4.9 percent higher, though slower than the 5.1 percent rise in February. Meanwhile, costs for housing and utilities surged 9.3 percent in March, almost at the same pace as in the prior month.

Month-on-month, consumer prices edged up 0.1 percent in March, following a 0.2 percent gain in the prior month. The expected increase was 0.4 percent. Core consumer prices also rose by 0.1 percent.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Australia Services PMI Slips To 53.6 In April - Judo Bank (03 hr(s), 40 min(s), 13 sec(s) ago)
(RTTNews) - The services sector in Australia continued to expand in April, albeit at a slower rate ...Full Story»

Australia Home Loan Data Due On Friday (04 hr(s), 47 min(s), 13 sec(s) ago)
(RTTNews) - Australia will on Friday release March figures for home loans, highlighting a light da ...Full Story»

U.S. Factory Orders Surge In Line With Estimates In March (12 hr(s), 02 min(s), 13 sec(s) ago)
(RTTNews) - New orders for U.S. manufactured goods surged in line with economist estimates in the ...Full Story»

U.S. Labor Productivity Increases Modestly In Q1, Labor Costs Spike (12 hr(s), 22 min(s), 13 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Thursday showed labor productivity in the ...Full Story»

Brazil Manufacturing Growth Strongest In 33 Months (12 hr(s), 23 min(s), 13 sec(s) ago)
(RTTNews) - Brazil's factory activity expanded at the fastest pace in more than two-and-a-half ...Full Story»

Italy Factory Activity Deteriorates In April (12 hr(s), 46 min(s), 13 sec(s) ago)
(RTTNews) - Italy's manufacturing sector returned to contraction territory in April after a sl ...Full Story»

OECD Raises Global Growth Forecasts (12 hr(s), 53 min(s), 13 sec(s) ago)
(RTTNews) - The Organization for Economic and Co-operation and Development on Thursday lifted the ...Full Story»

U.S. Trade Deficit Narrows Slightly To $69.4 Billion In March (12 hr(s), 58 min(s), 13 sec(s) ago)
(RTTNews) - The U.S. trade deficit edged slightly lower in the month of March, according to a repo ...Full Story»