Swedish Inflation Rises To 0.8%

(RTTNews) - Sweden's consumer price inflation increased more-than-expected in June to the highest level in four months, flash data from Statistics Sweden showed on Monday.

The consumer price index, or CPI, rose 0.8 percent year-over-year in June, following a 0.2 percent increase in May. Meanwhile, economists had expected inflation to rise to 0.4 percent.

Data showed that the consumer price index with a fixed interest rate, or CPIF, also increased at a faster pace of 2.9 percent annually in June versus 2.3 percent in May. Moreover, the inflation has continued to remain above the Riksbank's target of 2.0 percent.

Month-on-month, consumer prices moved up 0.5 percent.

The detailed result for the month of June is set to publish on July 14.