Sweden Inflation Remains Stable In September

Double boost for economy Industrial output growth rebounds inflation cools

Food price inflation that measures kitchen costs, remained soft at 1.76 per cent. Vegetables prices grew at 3.92 per cent in September as compared to 6.1 per cent in August.

Industrial production grew at a nine-month high of 4.3 per cent in August, mainly on account of robust performance of mining and power sectors coupled with higher capital goods output, official data showed today.

On the other hand, the industry group "Manufacture of furniture" has shown the highest negative growth of -16% followed by -15.1% in "Manufacture of tobacco products" and - 11.4% in "Printing and reproduction of recorded media".

Prices of food products went up last month 0.54 pct, similar to those of non-food products while service tariffs increased 0.32 pct. However, the with August's industrial production at 4.3%, it is inching towards 4.5% growth in July previous year. Meanwhile, economists had expected the inflation to rise to 2.4 percent. Primary goods output was 7.1%, up from 2.3% in July.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country's business landscape.

Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of January 2015.

There is no room or scope for further easing rates for at least 3-4 months. The current inflation rate remains below the Reserve Bank's 4 per cent target.

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