Thursday, July 7 2022

Inflation in Sweden rose last month to its highest level since 1991

COPENHAGEN, Denmark — Inflation in Sweden rose last month to its highest level since 1991, officials said on Thursday, as countries around the world grapple with soaring prices exacerbated by war in Russia in Ukraine.

The consumer price index rose 6.4% in April from a year ago and 6.1% in March, according to official figures from Statistics Sweden.

High energy prices were also fueling inflation, a key factor in the rest of Europe and other parts of the world amid fears the war could lead to a disruption in oil or gas supplies natural from Russia.

Statistics Sweden said food prices rose, with meat and vegetables being “the main contributors” to the rise. Clothing and books have seen seasonal price increases, while prices for furniture and household equipment “have now risen for six straight months”.

Prices also rose for home repairs and maintenance, transportation and other goods and services, the agency said.

Sweden, a member of the European Union, is not one of the 19 countries that use the euro. Annual inflation in the euro zone reached a record 7.5% last month.

The United States saw consumer prices jump 8.3% last month from a year ago, remaining near their highest level in four decades.

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