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Economics
Inflation & Prices

Swedish Inflation Tops 10% for the First Time Since 1991

  • Higher-than-expected inflation driven by food and electricity
  • Riksbank seen raising rates by 50 basis points in response
Updated on

Sweden’s inflation rate reached double digits for the first time in more than three decades in December, as price increases show little sign of abating despite the central bank’s efforts.

The CPIF measure of inflation that’s tracked by the Riksbank rose by 10.2% from a year earlier, according to Statistics Sweden. That’s more than the 9.8% expected by economists, while the Riksbank had forecast a rate of 9.1%.