Sweden’s consumer price inflation rose to the highest in over an year, figures from Statistics Sweden showed on Thursday.

The consumer price index rose 1.6 percent annually in January, following a 0.5 percent increase in December. Economists had expected a 1.5 percent rise.

The latest inflation was the highest since December 2019, when prices grew 1.8 percent.

On a month-on-month basis, consumer prices declined 0.4 percent in January, after a 0.7 percent growth in the previous month. Economists had expected a 0.4 percent fall.

Inflation, based on the CPI with fixed interest rate or CPIF, rose to 1.7 percent in January from 0.5 percent in the preceding month.

On a monthly basis, the CPIF declined 0.3 percent in Januray, after a 0.7 percent rise in the prior month.

The material has been provided by InstaForex Company – www.instaforex.com

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