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Investing.com -- Sweden’s core inflation rate, which excludes energy prices, rose to 3% last month, marking the fastest pace in nine months, according to a preliminary estimate by Statistics Sweden.
This increase in inflation for the second consecutive month has exceeded all forecasts, including a Bloomberg survey of analysts which had a median prediction of 2.7%.
Swedish officials have been leading the global movement to reduce monetary restraint, having cut the benchmark rate by 175 basis points to 2.25%.
However, the recent data indicating a rise in inflation may decrease the likelihood of further rate cuts later this year.
The increase in core inflation strengthens the chances that the Riksbank, Sweden’s central bank, will conclude its easing campaign.
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