Swedish price increase remains at a high level, but rather moderated in June.
The price increase in June came in at 9.3 percent for the month of June. This is down from 9.7 percent in May. Bloomberg economists previously forecast that inflation would fall to nine percent.
– In June, prices for some summer-related services increased. For example, prices for group tours, international flights and car rentals have all gone up, says Sophie Ohmann of Statistics Sweden.
Core price inflation stood at 8.1 percent in June, down from 8.2 percent in the previous month.
Strong rises in interest rates
Sweden’s central bank raised the key interest rate several times after the country’s price hikes.
The interest rate is now 3.75 percent after the Riksbank raised it by 0.25 percentage point at the previous meeting at the end of June. The bank also announced that there will be at least one interest rate increase in 2023. The next interest rate meeting will be held in Sweden on September 21.
Clarification: In an earlier version of this case, the price increase in Sweden was stated to be nine percent. The exact number is 9.3 percent.