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Sweden Inflation Highest Since December 1991

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Sweden’s consumer price inflation rose to the highest since December 1991, figures from Statistics Sweden showed on Thursday.

The consumer price index rose 6.0 percent annually in March, following a 4.3 percent increase in February. Economists had expected a rise of 5.6 percent.

The latest inflation was the highest since December 1991, when it was 7.9 percent.

“Prices on food and non-alcoholic beverages rose, but mainly it was rising electricity and fuel prices that had a major impact,” Caroline Neander, statistician at Statistics Sweden, said.

On a month-on-month basis, consumer prices rose 1.8 percent in March, following a 0.9 percent increase in the previous month. Economists had forecast an increase of 0.5 percent.

Inflation, based on the CPI with fixed interest rate or CPIF, increased to 6.1 percent in March from 4.5 percent in the preceding month.

Economists had expected a 5.7 percent rise. This was also the highest since December 1991.

On a monthly basis, the CPIF gained 1.7 percent in March, following a 0.9 percent increase in the previous month. Economists had forecast a 1.2 percent rise.

Prices for food and non-alcoholic beverages, fuel, furniture, and recreation and culture increased in February, the agency said.

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