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February 14, 2012
Consumer prices keep dropping in Sweden
Published: 11 Aug 09 11:52 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/21238/20090811/
Sweden's inflation rate continued to fall in July as consumer prices dropped for the fourth straight month, according to new figures from Statistics Sweden.
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July represents the fourth month running in which prices have fallen after falls of 0.4 percent in May and 0.1 percent in April.
Statistics Sweden said the fall in the price of petrol, lower interest rates for housing and cheaper clothes were the key drivers behind the month's deflation.
It also said that from June to July, consumer prices fell by 0.5 percent.
Sweden experienced several months of strong inflation last year before tailing off rapidly.
In September, inflation was as high as 4.4 percent on a 12-month comparison.
Sweden's central bank has set itself an inflation target of 2.0 percent year-on-year.
Deflation can hamper economic growth because it reduces businesses profits and discourages investment.
It also leads consumers to put off buying goods in the hope that prices will continue to fall.
What do you think? Leave your comment below.
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Your comments about this article:
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Everything I buy from the big stores has increased in price from cheese,milk to vegetables etc. The swedish currency has strengthened against all the major ones so prices should have decreased for these rather they are increasing!
do you guys have a competition commission it should investigate this increase in prices at the retail stores/wholesale stores!!
The prices in ICA and COOP are still rising. I should know, I shop in them. I am also a bargain hunter. It is harder to get a bargain now in Sweden, than two years ago, regarding clothes, furniture, DVDs, or Blurays.
Whoever compiled that report, should have the eyesight, hearing, IQ tested and a drug screen.
However, based on what we read, and the lack of finite details, we can only assume that another department is not paying attention....again.
Given the herd line quality of the Swedes, it could cause prices to plummet.
Jimhenry
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www.cashforclunkersfacts.info
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