Clothes demand bumps up Swedish inflation
The Local · 13 Sep 2005, 16:58
Published: 13 Sep 2005 16:58 GMT+02:00
Analysts had expected the monthly inflation figure to come in at 0.1% but accurately predicted the 0.6% rise for the 12-month period, according to a market poll by SME-Direkt.
After summer sales in July, prices for clothing and shoes rose by 3.1%, accounting for 0.1%age point of the overall increase, as did the 1.3% increase in petrol prices.
Meanwhile, prices for package holidays dropped by seven%.
When calculated according to a harmonized European index, Swedish prices rose by 1.0% in August over 12 months, and by 0.2% from the previous month.
The Swedish central bank, Riksbank, has an annual inflation target of 2.0%.