Sweden’s inflation rate accelerated more than expected last month, knocking expectations that the central bank will cut interest rates in August to support the struggling economy.
CPIF, a measure of inflation with a fixed interest rate, sped up to 2.9% in June from 2.3% in May, according to a preliminary release from Statistics Sweden on Monday. The median forecast in a Bloomberg survey of analysts was 2.5% while the Riksbank’s projection stood at 2.4%.