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Sweden Producer Price Inflation Rises Further; Trade Deficit Widens

Sweden's producer prices rose at the fastest rate in August and trade deficit increased from last year, figures from Statistics Sweden showed on Tuesday.

The producer price index grew 22.0 percent year-on-year in August, following a 20.4 percent rise in July.

Import prices increased 31.7 percent yearly in August and rose 1.1 percent from a month ago.

Export prices grew 21.1 percent annually in August and increased 2.3 percent from the previous month.

On a monthly basis, producer prices rose 3.3 percent in August.

All the markets were affected by higher prices for electricity, the agency said.

Separate data from the statistical office showed that the trade deficit widened to SEK 18.4 billion in August from SEK 11.1 billion in the same month last year. In July, the trade surplus was SEK 3.9 billion.

Exports grew 29.0 percent annually in August and imports rose 32.0 percent.

On a seasonally adjusted basis, the trade deficit widened to SEK 8.2 billion in August from SEK 7.8 billion in the previous month.

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