Swedish inflation above target, but tightening unlikely

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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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