Inflation & Prices
Swedish Inflation Backs Riksbank’s Case for More Rate Cuts
- Core inflation was below all economist estimates in June
- Central bank’s target measure at more than three-year low
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Sweden’s underlying inflation slowed more than expected last month, paving the way for the Riksbank to continue taking borrowing costs lower.
The core inflation rate, which strips out energy costs and the effect of interest-rate changes, dropped to 2.3% in June, according to a statement from the statistics office on Friday. That was the lowest since December 2021, below all estimates in a Bloomberg survey as well as the central bank’s 2.5% forecast.