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Slight fall in Swedish inflation rate

Thursday, 12 April 2012
The Swedish inflation rate dropped to 1.5 percent in March 2012 compared to 1.9 percent in February according to new official report.

The Swedish Consumer Price Index (CPI) increased by 0.3 percent from February to March 2012 (0.7 percent from February to March 2011). The CPI for March of 2012 was 314.80 (1980=100) reports statistic Sweden.

Analysts had expected that consumer prices would have risen 0.5 percent on a monthly basis and increased by 1.7 percent compared to March 2011, according to various consensuses forecasts.

The Riksbank's (Central bank’s) forecast from the Monetary Policy Report, published on February 16, was that CPI inflation will be 1.6 percent in March. In February consumer prices was 0.7 percent during the month, while the inflation rate was measured at 1.9 percent.

Statistic Sweden SCB writes in a comment that the upturn in the past month affected the normal seasonal price increases for clothing and footwear (6.7 percent) by more than 0.3 percentage points. Higher fuel prices (3.7 percent) and increased rents (0.3 percent) contributed upwards by a further 0.2 and almost 0.1 percentage points.

However, there were price decreases on electricity (-4.9 percent) and lower interest rates (-2.1 percent) which counteracted the increase and contributed downwards with 0.2 and 0.1 percentage points respectively, Statistic Sweden pointed out.
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