Swedish Inflation Confirmed At 0.7%

(RTTNews) - Sweden's consumer price inflation moderated slightly as initially estimated in June, the latest 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. That was in line with the flash data published on July 8.

The slowdown in inflation was largely due to a continued sharp fall in costs for food and non-alcoholic beverages, which declined by 6.8 percent. Clothing and footwear prices were 2.3 percent less expensive.

The annual price growth in transportation eased to 3.5 percent from 6.0 percent, while that in housing and utilities accelerated to 4.0 percent from 2.6 percent.

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, as estimated.

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