Swedish inflation slowed sharply in March, nearing the central bank's 2% target and clearing the way for rate cuts. Consumer prices rose 0.1 percent in March and were up 2.2 percent from the same month last year. Inflation, excluding volatile energy prices, was 2.9% year-on-year.
STOCKHOLM -Swedish inflation slowed sharply in March, data showed on Friday, nearing the central bank 's 2% target and clearing the way for the start of a series of rate cuts , possibly as early as the next policy meeting in May.
"Today's number, the broad interpretation is that we have a good basis for inflation stabilizing," Deputy Governor Anna Breman said in a speech after the data."At the same time, it is always the case ... that a single number is not what decides monetary policy." However, rate-setters are still concerned about a weak Swedish crown, which could take further punishment if rate cuts by European Central Bank and the U.S. Federal Reserve are pushed back.
Sweden Inflation Rate Cuts Central Bank Consumer Prices
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