Sweden's inflation highest in nearly 32 years on food, energy costs
Consumer prices climbed 12.3% year-over-year in December, faster than the 11.5% increase in November. That was also above the 12% rise economists had expected.
- Economy
- DPA
- Published Date: 12:00 | 13 January 2023
- Modified Date: 12:04 | 13 January 2023
Sweden's consumer price inflation accelerated more-than-expected in December to the highest level in nearly 32 years amid higher costs for electricity, food, and fuel prices, figures from Statistics Sweden showed on Friday.
Consumer prices climbed 12.3% year-over-year in December, faster than the 11.5% increase in November. That was also above the 12% rise economists had expected.
The latest inflation was the highest since February 1991, when prices had grown 13.1%.
Utility costs surged 20.2% yearly in December, as electricity costs alone grew 45.3%.
Prices for food and non-alcoholic beverages were 18.24% more expensive, linked to increased prices for milk, cheese and eggs, meat as well as bread and cereals.
Higher fuel costs were responsible for an 8.83% rise in transport charges in December. On a monthly basis, consumer prices moved up 2.1% in December versus 1% in November. Prices were forecast to rise by 1.8%.
- U.S. Treasury chief urges Congress amid debt limit to avoid default
- German economy holds up in 2022 despite Ukraine war fallout
- Donald Trump's company to be sentenced for 15-year tax fraud
- German economy slows in 2022 on Ukraine war fallout
- Ring unveils drone for home security that patrols inside your house