Swedish Inflation Rises Less Than Estimated

(RTTNews) - Sweden's consumer price inflation increased less than initially estimated at the start of the year, the latest data from Statistics Sweden showed on Tuesday.

The consumer price index, or CPI, climbed 0.9 percent year-over-year in January, slightly faster than the 0.8 percent rise in December. In the flash report, the rate of increase was 1.0 percent.

Moreover, inflation remained below the Riksbank's 2.0 percent target for the sixth straight month.

Data showed that the consumer price index with a fixed interest rate, or CPIF, also increased at an accelerated pace of 2.2 percent annually in January versus 1.5 percent growth in the prior month, as estimated.

Higher fees for rented apartments and increased prices for food and restaurant visits contributed most to the overall inflation, the agency said.

The annual price growth in food and non-alcoholic beverages quickened to 2.2 percent in January from 1.7 percent a month ago. Clothing and footwear prices grew at a faster pace of 3.7 percent versus 2.09 percent a month ago. Meanwhile, housing and utility costs continued to drop by 0.86 percent.

Month-on-month, consumer prices remained flat for the second straight month, as estimated.