Sweden Inflation Confirmed At 0.3%

(RTTNews) - Sweden's consumer price inflation held steady as initially estimated in December after easing to a 6-month low in the previous month, the latest data from Statistics Sweden showed on Thursday.

The consumer price index, or CPI, rose 0.3 percent year-over-year in December, the same as in November. That was in line with the flash data published on January 8.

Data showed that the consumer price index with a fixed interest rate, or CPIF, increased at a slower pace of 2.1 percent annually in December versus 2.3 percent in November, as estimated. Nonetheless, the inflation has continued to remain just above the Riksbank's target of 2.0 percent.

The increase in prices for air travel and car rentals was offset by price reductions on fuel and furniture, Caroline Neander, a statistician at Statistics Sweden, said.

Fuel prices were 10.9 percent cheaper compared to last year, while electricity costs grew 7.1 percent, and those for food and non-alcoholic beverages increased by 3.7 percent.

Month-on-month, consumer prices remained flat versus a 0.4 percent decrease in November.