Sweden's annual inflation rate lowest since 2021

ISTANBUL

Sweden's annual consumer inflation rate drops to 2.6% in June, the lowest since September 2021, the country's statistical office said on Friday.

Coming below market estimates, June figure eased from 3.7% in May thanks to a slowdown in rising housing costs (5.6% in June versus 7.5% in May).

Food prices climbed 1.1% year-on-year in June, down from a 1.5% hike in May.

On a monthly basis, Sweden's Consumer Prices Index fell 0.1% in June, the first decline in five months, following a 0.2% growth in May.

The decline in monthly figure was mainly led by a 2.9% decrease in clothing prices, which switched from a 1.12% rise in May.