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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ride-hailing and delivery platform Uber Technologies, Inc. reported Wednesday weak profit in its fourth quarter, while adjusted EBITDA surged from last year with strong revenue growth above market view. Gross bookings increased and the company projects higher gross bookings in the first quarter. Nelson Chai, CFO, said the company significantly exceeded profitability outlook in 2022, ... Societe Generale Group reported Wednesday a weak profit in its fourth quarter, despite higher net banking income. Further, the French Financial services major proposed a dividend and around 440 million euros share buyback program. The company also confirmed fiscal 2025 financial targets. City of Industry, California-based Titans Global Inc. is recalling certain JSJ branded cakes citing potential to contain undeclared eggs, a known allergen, the U.S. Food and Drug Administration said. The recall involves its 95g packages of JSJ Chocolate Cake, JSJ ZSR Cake, and JSJ DMC Leaf Cake food treats.
Follow RTT