Swedish Inflation

Swedish CPIF ex energy accelerated to 0.5% in May, surprising markets and analysts to the upside. The release forces the Riksbank to reconsider its policy rate path ahead of the June Monetary Policy Report.

Key Takeaways

• 1.CPIF ex energy inflation rose to 0.5% y/y in May, exceeding expectations due to a rebound in service prices.
• 2.The upside surprise complicates the Riksbank's policy rate outlook, with a potentially higher path being considered.

Table of Contents

• Higher inflation in May after a string of downside surprises
• Policy implications