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Swedish Inflation at New High Extends Riksbank’s ‘Bad Year’

  • June inflation at 8.5%, far above the central bank’s forecast
  • Pressure increases on the Riksbank to hike rates faster
Updated on

Consumer prices in Sweden surged to a fresh record that continued to wrong-foot the Nordic country’s central bank, fueling bets it will raise interest rates faster than planned.

The Riksbank’s target measure, CPIF, rose 8.5% from a year earlier in June, marking another three-decade high, according to data released by Statistics Sweden on Thursday. Economists surveyed by Bloomberg expected prices to rise by 8.1%, while the central bank had projected an 8% gain.