Swedish Inflation Confirmed At 0.9%

(RTTNews) - Sweden's consumer price inflation moderated as initially estimated in September, the latest data from Statistics Sweden showed on Wednesday.

The consumer price index, or CPI, rose 0.9 percent year-over-year in September, following a 1.1 percent increase in August. That was in line with the flash data published on October 8.

Prices for food and non-alcoholic beverages grew 3.3 percent from last year, and electricity charges climbed sharply by 22.5 percent.

Meanwhile, there was a 27.5 percent lower interest expense for owner-occupied housing and tenant-owned apartments. The slowdown in inflation was also influenced by a 3.5 percent cheaper cost for fuels.

Data showed that the consumer price index with a fixed interest rate, or CPIF, also increased at a slightly slower pace of 3.1 percent annually in September versus 3.2 percent in August, as estimated. Nonetheless, the inflation has continued to remain above the Riksbank's target of 2.0 percent.

Month-on-month, consumer prices remained flat versus a 0.4 percent fall in August, confirming the flash data.