Sweden's annual inflation slowed slightly more than economists expected in July, data released by Statistics Sweden showed Tuesday.
Inflation slowed to 0.7 percent in July from 1 percent in June, which was unchanged from May. Economists were looking for an inflation rate of 0.8 percent for July.
Sequentially, the consumer price index decreased 0.4 percent, quicker than the 0.2 percent fall recorded in June. Economists expected prices to decrease 0.3 percent month-on-month.
Core inflation, according to CPIF, was 0.8 percent in July, in line with economists' forecast. Compared to June, core consumer prices decreased by 0.4 percent, a tad faster than 0.3 percent expected by economists.
At the same time, the harmonized index of consumer prices (HICP), measured under the EU methodology, increased 0.7 percent annually in July. Month-on-month, the HICP decreased by 0.5 percent, data showed.
by RTT Staff Writer
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