Schweden Verbraucherpreise

The annual inflation rate in Sweden slowed to 3.7% in May 2024, down from 3.9% in the previous month but above market forecasts of 3.5%. Still, it was the lowest reading since January 2022, primarily driven by easing prices of housing & utilities (7.5% vs 8.6% in April), recreation & culture (1.8% vs 2.4%), and restaurants & hotels (4.9% vs 5.6%). In contrast, costs accelerated for food & non-alcoholic beverages (1.5% vs 0.7%), and transport (2.4% vs 0.2%). Meanwhile, the consumer price index with a fixed interest rate, rose by 2.3% year-on-year in May, the same pace as in the prior period. On a monthly basis, the CPI grew 0.2%, slightly down from a 0.3% rise in April and against market estimates of a 0.1% fall.