Sweden April Producer Price Inflation At 8-Month High

(RTTNews) - Sweden's producer price inflation accelerated to its highest level in eight months in April, data from Statistics Sweden showed Tuesday.

The producer price index rose 2.4 percent year-over-year in April, faster than previous month's 2.3 percent climb. It was the fourth consecutive monthly increase.

The latest rate of inflation was the highest since August last year, when prices had risen 2.7 percent.

Prices on the import market rose 2.2 percent and prices on the export market grew by 4.6 percent. Domestic market producer prices moved up 0.3 percent in April from the previous year.

Import prices increased due to higher prices for crude oil. Prices for domestic supply have increased 1.2 percent in April compared to the previous year.

However, producer prices edged down 0.3 percent month-on-month in April. Import prices rose 0.2 percent, while export prices went down by 0.3 percent.