Sweden's annual inflation rate rises to over 3-decade high

ANKARA

Sweden's annual consumer inflation rate rose to 10.8% in September, the highest reading since December 1990, the country's statistical office said on Thursday.

The September figure, up from 9.8% in August, came above market forecast of 10.5%.

The surge stemmed from higher prices of electricity, and food and non-alcoholic beverages, according to Statistics Sweden.

Electricity prices rose 54% in September compared to a year ago.

Food and non-alcoholic beverage prices jumped 16.1% year-on-year in September, the largest rise since August 1981.

On a monthly basis, Sweden's consumer prices index increased 1.4% in September, slowing down from a 1.8% rise in August.