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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SWEDEN
MNI (London)
SWEDENN APR CPI +10.5% Y/Y (FCST +10.6%); MAR +10.6% Y/Y
SWEDEN APR CPIF +7.6% Y/Y (FCST +8.0%); MAR +8.0% Y/Y
SWEDEN APR CPIF EX. ENERGY +8.4% Y/Y (FCST +8.7%); MAR +8.9% Y/Y
- The Swedish inflation rate edged down in April by 0.1pp to +10.5% y/y, and CPIF (fixed interest rate inflation) slowed by 0.4pp to +7.6% y/y. Both readings were lower than consensus expectations which were for unchanged.
- Housing, transport (especially airfares), and holiday packages prices increased, offset by lower energy and food prices. Slowing food prices drove the bulk of the April deceleration in CPI, with food CPI falling for the first time since November 2021 (down -1.3% m/m) and decelerating from +19.7% y/y in March to +17.5% y/y in April.
- This largely underpinned CPIF excluding energy easing 0.5pp to +8.4% y/y, slowing for a second consecutive month.
- Despite showing positive signs of easing, Swedish inflation remains high and sticky. The Riksbank delivered the anticipated 50bp hike in April, with their numerical policy rate path peaks at 3.65%, implying a 60% probability of a 25bp hike in either June or September.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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