Sweden’s consumer price inflation eased in March to the lowest level in more than four years, flash data from Statistics Sweden showed on Friday.
The consumer price index, or CPI, rose 0.5 percent year-over-year in March, slower than the 1.3 percent increase in February. Economists had expected inflation to slow to 0.8 percent.
Further, this was the lowest inflation rate since December 2020, when prices had risen the same 0.5 percent.
Data showed that the consumer price index with a fixed interest rate, or CPIF, also increased at a slower pace of 2.3 percent annually in March versus 2.9 percent growth in the prior month. The expected rate was 2.6 percent. However, the inflation is still above the Riksbank’s target of 2.0 percent.
Month-on-month, consumer prices dropped 0.7 percent in March, reversing a 0.6 percent rise in the prior month.
The detailed result for the month of March is set to publish on April 11.
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