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Core inflation in line with Riksbank, energy component high

SWEDEN
  • Note that the Riksbank had been looking for 2.93% for CPIF Y/Y and 1.66% for CPIF ex energy.
  • So the 1.7%Y/Y ex energy print is a bit disappointing to the market (which was looking for 1.8%), but in line with the Riksbank. While the energy component was higher than even consensus expected. (Consensus had expected CPIF to be 4.0%Y/Y rather than the 4.1% printed).
  • Very liettle reaction in EURSEK.

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