Sweden Inflation Eases To 0.7% In June

(RTTNews) - Sweden's consumer price inflation moderated slightly as expected in June, flash data from Statistics Sweden showed on Wednesday.

The consumer price index, or CPI, rose 0.7 percent year-over-year in June, following a 0.8 percent increase in May, which was the highest inflation in seven months.

"The slowdown in inflation was driven by lower food prices and transportation costs," Mikael Nordin, a statistician at Statistics Sweden, said.

Inflation based on the consumer price index with a fixed interest rate moderated to 1.3 percent in June from 1.5 percent a month ago.

On a monthly basis, consumer prices increased 0.4 percent versus a 1.0 percent rise in May.