Sweden Producer Price Inflation At 1-1/2-Year Low; Jobless Rate Climbs

Sweden’s producer price inflation eased to the slowest pace in one-and-a-half years in June and the unemployment rate increased during the month, figures from Statistics Sweden showed on Thursday.

The producer price index climbed 2.5 percent year-on-year in June, following a 3.5 percent rise in May.

The latest inflation was the slowest since January 2018, when it was 2.5 percent.

Prices on the export and import markets grew by 3.4 percent and 2.4 percent, respectively.

On a monthly basis, producer prices declined 0.2 percent in June.

Separate data from Statistics Sweden showed that the jobless rate rose to 7.6 percent in June from economists’ expectation of 6.8 percent.

On a seasonally adjusted basis, the unemployment rate increased to 6.3 percent in June.

The number of unemployed persons rose to 427,200 persons in June from 372,800 persons in the previous month.

The number of employed persons rose to 5.22 million persons in June.

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