Andreas Wallström, Research Analyst at Nordea Markets, notes that Sweden’s CPIF-inflation stood at 2.1% in May, well in line with forecasts, while CPIF ex energy came in at 1.5%, which is 0.1% points below the Riksbank’s view.
“We forecast core inflation to gradually increase until being close to 2% during spring 2019. This is fully in line with the Riksbank’s forecast. Thereafter, however, we expect inflation to fall back to its historical average at 1.5% while the Riksbank sees inflation stabilizing at 2.0%.”
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