Sweden’s inflation rate down month-on-month in August

ISTANBUL

Sweden’s monthly inflation rate was recorded at 1.9% in August, down from 2.6% in July, according to the country’s official statistical bureau on Tuesday.

The decrease in consumer prices was attributed to the declining electricity prices in August versus July, Statistics Sweden said.

Lower housing costs over the same period also contributed to the decline, it added.

The report by the bureau said that transport prices declined on a monthly basis due to lower prices for international flights, car rentals, and fuel.

“There have also been price reductions on package holidays and for food and non-alcoholic beverages,” it said.

“The price decreases were partially offset by higher clothing prices, which is normal for the season,” Statistics Sweden added.

On a yearly basis, Sweden’s consumer prices fell 0.1% in August.