Swedish inflation drops sharply in November
TT/AFP/The Local · 9 Dec 2008, 12:25
Published: 09 Dec 2008 12:25 GMT+01:00
- Riksbank slashes interest rates (04 Dec 08)
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- Stockholm ranks as fourth most expensive city (13 Nov 08)
On a month-on-month basis, November consumer prices dropped 0.8 percent, SCB said.
The fall in the rate of inflation, which is a measure of the average change of consumer prices over the past 12 months, was the largest for 15 years, according to SCB.
The decline was attributed primarily to a 9.1 percent fall in petrol prices and lower borrowing and mortgage interest costs.
"This is a large and broad fall and paves the way for further base rate cuts next year."
Underlying inflation was 1.6 percent in November on an annual basis, down by 0.5 percent from October.