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Swedish inflation rate more negative in June

Swedish inflation rate more negative in June

Sweden's annual inflation rate dropped to a negative 0.6 percent in June, largely due to cheaper housing costs on the back of lower interest rates as well as reduced prices for health care, the country's statistics agency said Thursday.
The annual inflation rate in May was a negative 0.4 percent.
Statistics Sweden said however that the consumer price index rose by 0.2 percent from May to June. Higher prices for gas, package holidays and mail and telecommunications services contributed to that increase.
Earlier this month, Sweden's central bank, the Riksbank, made a surprise cut in the country's repo rate, slashing it by a quarter of a percentage point to 0.25 percent. The bank said the economic downturn seemed deeper than previously thought.


Updated : 2021-10-24 13:25 GMT+08:00