Swedish inflation above target, but tightening unlikely
GDP growth also exceeded forecasts in second quarter of 2017, while repo rate is -0.5%
Inflation in Sweden grew in July above the 2% target pursued by Sveriges Riksbank for the first time since 2012, and comes as GDP growth hit 4% year on year in the second quarter. But the central bank is still not expected to raise rates until April 2018.
The consumer price index (CPI) expanded by 2.2% in July, up from 1.7% in June, Sweden’s office of statistics said on August 15. As in Denmark, the increase seems to be linked to seasonal factors. The price of package holidays rose by 18.8%
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