Swedish Inflation Confirmed At 4-Year Low

(RTTNews) - Sweden's consumer price inflation eased as initially estimated in December to the lowest level in four years amid falling energy costs, the latest data from Statistics Sweden showed on Wednesday.

The consumer price index, or CPI, climbed 0.8 percent year-over-year in December, slower than the 1.6 percent stable rise in November. That was in line with the flash data published on January 8.

This was the weakest inflation since December 2020, when prices had risen 0.5 percent. Moreover, inflation remained below the Riksbank's 2.0 percent target for the fifth straight month.

Data showed that the consumer price index with a fixed interest rate, or CPIF, increased at a slower pace of 1.5 percent annually in December versus 1.8 percent growth in the prior month, as estimated.

The annual price growth in food and non-alcoholic beverages eased to 1.7 percent in December from 1.9 percent a month ago. Meanwhile, electricity costs were 6.9 percent cheaper, and interest costs for tenant-owned apartments decreased 9.4 percent.

Housing costs slightly decreased on an annual basis, which last happened in November 2020, the agency said.

Month-on-month, consumer prices remained flat in December, following a 0.3 percent rise in November.