Price inflation in Sweden remains sky high.
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For the month of July, it ticked in at 9.3 per cent, according to figures from SCB.
It is in line with what the analysts expected and exactly the same figure as in June.
Core inflation, where energy prices are not taken into account, has barely dropped to 8.0 per cent – down from 8.1 per cent in June. That too is in line with expectations.
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Increased interest rates have not led to more unemployed people. But now something might happen.
Interest rate peak in November
“With a further weakening of the Swedish krone on top of it all, according to our Swedish colleagues, the stage is set for a new interest rate increase in September”, writes Handelsbanken in its morning report.
The interest rate in Sweden is now 3.75 per cent.
In addition to another increase in September, the Swedes expect another increase in November to a peak of 4.25 percent, writes Handelsbanken.
Expensive package holidays and cheap electricity
Electricity prices in Sweden fell by around 15 per cent in July, according to the statistics.
At the same time, increased interest costs contribute to inflation in Norway’s neighboring countries. The 3.5 and 3.9 per cent respectively for own homes and homes in housing associations.
The prices of package holidays increased by as much as 20 per cent from June to July, while the prices of food and non-alcoholic beverages rose by 1.4 per cent.
It happens after a few months where food prices have fallen. according to The evening paper yellow onions top the statistics – here prices have increased by 29.2 per cent in the last month.
The statistics also show a sharp decrease in road tolls, but this is because SCB uses a new method of measurement that takes into account toll-free days.
2023-08-15 06:00:54
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