Sweden's producer price inflation came in below economists' expectations in May, data released by Statistics Sweden showed Tuesday.
The producer price index increased 0.3 percent on an annual basis in May, slower than the 0.6 percent growth economists expected. In April, output prices had remained unchanged year-on-year.
Output prices of goods meant for the domestic market decreased 0.3 percent from last year during the month. Producer prices in the manufacturing sector rose 1.5 percent annually, while prices of electricity and gas and the cost of heating plunged 13.2 percent.
On a monthly basis, output prices decreased 0.5 percent in May, faster than the 0.2 percent decrease economists' forecast.
At the same time, Swedish export price index rose 0.9 percent year-on-year in May, while on a monthly basis it dropped 0.3 percent. Import prices edged up 0.1 percent annually during the month. Compared to April, import prices decreased 1.8 percent, data showed.
by RTT Staff Writer
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