12.08.202012:02:00UTC+00Sweden Inflation Eases In July

Sweden's consumer prices inflation eased in July, data from Statistics Sweden showed on Wednesday.

The consumer price index rose 0.5 percent year-on-year in July, after a 0.7 percent increase in June. Economists had expected a 0.3 percent rise.

The increase in the inflation rate was mainly due to lower prices for electricity, the statistical office said.

On a month-on-month basis, consumer prices rose 0.2 percent in July, after a 0.6 percent growth in the preceding month. Economists had forecast a 0.1 percent rise.

The statistical office said 1.3 percent of the CPI basket was imputed due to absence of consumption.

Prices for car rentals increased and those of holiday packages lowered.

The CPI with fixed interest rate, or CPIF, rose 0.5 percent yearly in July, after a 0.7 percent increase in the prior month. Economists had expected a 0.3 percent increase

On a monthly basis, the CPIF increased 0.2 percent in July, after a 0.6 percent in the preceding month. Economists had forecast a 0.1 percent gain.