Sweden Inflation Eases To 0.3%, Lowest Since November 2020

Sweden's consumer price inflation eased in April to the lowest level in nearly four-and-a-half years, flash data from Statistics Sweden showed on Wednesday.

The consumer price index, or CPI, rose 0.3 percent year-over-year in April, slower than the 0.5 percent increase in March. Economists had expected inflation to remain stable at 0.5 percent.

Further, this was the lowest inflation rate since November 2020, when prices had risen 0.2 percent.

Data showed that the consumer price index with a fixed interest rate, or CPIF, increased at a stable pace of 2.3 percent annually in April versus an expected rate of 2.5 percent. Moreover, the inflation is above the Riksbank's target of 2.0 percent.

Month-on-month, consumer prices edged up 0.1 percent in April, reversing a 0.7 percent fall in the prior month.

The detailed result for the month of April is set to publish on May 14.