**As seen in Risk In The Week report 06/09/24, subscribe at cablefxm.co.uk/reports
Sweden headline consumer prices accelerated in April to a monthly pace of 0.3% from the prior 0.1%, however, this missed the survey median of 0.4%. The CPIF metric rose 2.3% Y/y, this was higher than the prior 2.2% but slower than expectations of 2.4%. The uptick is not derailing the disinflationary progress seen over the course of last year, and economists expect the ease in prices to continue. Expectations for CPIF have been revised lower, economists now see the metric rising by 2.3% or a 10th of a % slower than the prior forecast, according to data compiled by Bloomberg. May Swedish inflation data will be the last data point before the Riksbank meets for its June monetary policy meeting.
Danske Bank analysts see the CPIF and CPIF ex-energy figures rising at 1.8% and 2.7%, respectively, they noted their projections standing below the Riksbank's forecast. Economists at Swedbank expect the CPIF metric to extend below the central bank target for the rest of the year, they forecast the print slowing to 1.0% in June. However, Swedbank warned on May upside risks due to Taylor Swift concerts, which could have pushed prices up in hotels and travel.
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