"Inflation has risen recently and in our prognosis, we expect it to be somewhat elevated for the rest of the year. This is especially true if you exclude energy prices. But there are strong reasons to believe that the increase will not be lasting", says Jansson in a speech at Nordea's office in London on Tuesday, according to a press release from the Swedish Central Bank.
"The unusually large contribution from the so-called basket effect is expected to fall out next year. Furthermore, world market prices for several raw materials have fallen back and the krona has strengthened, which should lead to food prices not increasing as rapidly going forward", he adds.
By the basket effect, Jansson refers to the fact that inflation has partially increased due to changes in the basket of goods used by Statistics Sweden (SCB) to measure inflation.
"In the current situation, I believe it is particularly important not to create unnecessary expectations that interest rate hikes are imminent, not least because the Swedish economy still needs support. It is only if confidence in the inflation target begins to be threatened that I think such expectations are justified", says Jansson.
