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Swedish Inflation at 28-Year High Tests Riksbank’s Patience

  • Central bank’s target gauge hit highest since 1993 in November
  • Riksbank still sees consumer price surge as temporary
Inside ICA Gruppen AB as Swedish Grocer Set For $12.5 Billion Deal
Photographer: Mikael Sjoberg/Bloomberg
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Swedish inflation accelerated more than expected in November to the highest level in almost 28 years, testing the central bank’s patience for a price surge it believes to be largely transitory. 

The Riksbank’s target measure, CPIF, stood at 3.6% last month, Statistics Sweden said Tuesday. It is the highest since December 1993, just over a year before the inflation target was formally introduced.