Swedish CPI

December outcome came out higher than expected and also somewhat higher than the Riksbank’s forecast. This of course provides some ease on the pressure to do unconventionals. BUT, we still see that they have to revise down inflation forecast due to lower energy prices in January (and longer out also due to low cost pressure). Component surprises: ticket prices for foreign flights higher than anticipated

Details, December:
CPI m/m: 0.16% (Nordea -0.06; consensus -0.1; prior -0.1)
CPI y/y: -0.3% (Nordea & consensus -0.5; Riksbank -0.5; prior -0.2)
CPIF m/m: 0.2% (Nordea & consensus 0.0; prior 0.0)
CPIF y/y: 0.5% (Nordea 0.3; consensus 0.2; Riksbank 0.4; prior 0.6)

 

Nordea