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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)
SWEDEN MAY CPIF +0.1% M/M; +6.7% Y/Y ; APR +7.6% Y/Y
- Swedish inflation cooled by 0.9pp to +6.7% y/y in the Riksbank's closely watched CPIF measure (CPI with fixed interest rate), in line with expectations.
- CPIF rose a marginal +0.1% m/m, edging down from +0.2% m/m in April.
- Mikael Nordin, statistician at Statistics Sweden confirmed the "continued decrease in electricity and food prices contributed to the lower inflation rate in May".
- Food fell -0.4% m/m, and energy and fuel by -11.1% m/m and -4.7% m/m respectively. This was offset by the +3.3% m/m jump in restaurant/hotel prices, +1.6% m/m uptick in recreation/culture charges and a +1.5% m/m increase in clothing prices.
- Sticky service prices underpinned continued strength in CPIF ex. energy, which surprised to the upside in May, easing by only 0.2pp to +8.2% y/y (vs +7.8% expected).
- The slower deceleration in underlying inflationary pressures add to the probability of the Riksbank delivering a 25bp hike on June 29 as priced in by markets, bringing rates to 3.75% and the likely cycle peak.
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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