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UPDATE 1-Swedish inflation eases more than expected in April

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds detail, background) STOCKHOLM, May 15 (Reuters) - Consumer prices in Sweden, measured with a fixed interest rate, rose 0.2% in April from the previous month and were up a smaller-than-expected 7.6% from the same month last year, the statistics office (SCB) said on Monday. The central bank targets 2 percent CPIF inflation. Stripping out volatile energy prices - a measure the central bank is looking closely at - underlying inflation was 8.4% on the year. For headline inflation, analysts had forecast 7.9%, the same as the Riksbank. Underlying inflation was seen by analysts at 8.7% and at 8.6% by the Riksbank.


At the end of April, the Riksbank raised rates by a half-percentage-point to 3.50%. Another quarter-point hike is expected in June or September, before the tightening cycle comes to an end.


However, rate-setters said they was ready to rethink policy if inflation proves stickier than currently expected.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Swedish rates and inflation: ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Simon Johnson)

Messaging: simon.c.johnson.reuters.com@reuters.net))
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