Inflation falls to 0.7% in July as lower electricity prices weigh on CPIF

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Inflation falls to 0.7% in July as lower electricity prices weigh on CPIF
Photo: Caisa Rasmussen/TT

The outcome was in line with the preliminary figures published by Statistics Sweden last week.

"Lower electricity and fuel prices were offset by seasonally normal price increases in package tours and car rentals, among other things," says Mikael Nordin, price statistician at Statistics Sweden, in a press release.

The Swedish Central Bank's inflation target is 2.0 percent.

The unusually low inflation is affected, among other things, by the temporary tax cut on fuel and the government subsidy for monthly public transport passes that was introduced on July 1.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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