Sweden's headline inflation decelerated at a slower pace than anticipated in July, according to preliminary figures released by Statistics Sweden (SCB).
The data indicates that while price growth is moderating, the disinflationary trend is losing momentum more quickly than market consensus had priced in.
9% year-on-year in July, reversing a modest cooling trend, while US consumer price inflation decelerated to 3.
The reading arrives as central banks across the region navigate a complex inflation landscape.
In the eurozone, headline inflation accelerated to 2.9% year-on-year in July, reversing a modest cooling trend, while US consumer price inflation decelerated to 3.5% in June, surprising markets with a sharper drop than expected.
The Swedish data adds another layer of nuance to the global picture, suggesting that domestic price stickiness may persist longer than some models predicted.
For traders and investors, the Swedish print reinforces the view that the path to target inflation remains uneven.