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Sweden Inflation Highest Since September 2008

Sweden’s consumer price inflation rose to the highest since September 2008, figures from Statistics Sweden showed on Monday.

The consumer price index rose 4.3 percent annually in February, following a 3.7 percent increase in January. Economists had expected a rise of 3.9 percent.

The latest inflation was the highest since September 2008, when it was 4.4 percent.

On a month-on-month basis, consumer prices rose 0.9 percent in February, after a 0.5 percent drop in the previous month. Economists had forecast an increase of 0.5 percent.

Inflation, based on the CPI with fixed interest rate or CPIF, increased to 4.5 percent in February from 3.9 percent in the preceding month. Economists had expected a 4.1 percent rise.

On a monthly basis, the CPIF gained 0.9 percent in February, after a 0.5 percent decrease in the previous month. Economists had forecast a 0.4 percent rise.

Prices for food and non-alcoholic beverages, fuel, furniture, and recreation and culture increased in February, the agency said.

“There was a broad price increase on food and non-alcoholic beverages in February,” Sofie Ohman, statistician at Statistics Sweden, said.

“Even though we noted some tendencies to this increase already in January, there was a completely different impact in February.”

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