Inflation at record level

Consumer prices increased by 0.2 percent from November to December, according to Statistics Sweden.

The rate of inflation was 3.5 percent, compared to 3.3 percent in November.

The December figure represents the highest level of inflation in Sweden in the past 14 years.

Prices have not increased so sharply since January 1993, when inflation reached 4.8 percent.

One reason for the rise is price hikes for cheese, milk and eggs, which collectively increased by 4.3 percent.

Another factor was the elevated costs of home loans, electricity and heating fuel. These changes were in part balanced by reduced costs for clothing, down by 1.6 percent.

TT/David Bartal