Sweden's consumer price inflation accelerated more-than-expected in December to the highest level in nearly 32 years amid higher costs for electricity, food, and fuel prices, figures from Statistics Sweden showed on Friday.
Consumer prices climbed 12.3% year-over-year in December, faster than the 11.5% increase in November. That was also above the 12% rise economists had expected.
The latest inflation was the highest since February 1991, when prices had grown 13.1%.
Utility costs surged 20.2% yearly in December, as electricity costs alone grew 45.3%.
Prices for food and non-alcoholic beverages were 18.24% more expensive, linked to increased prices for milk, cheese and eggs, meat as well as bread and cereals.
Higher fuel costs were responsible for an 8.83% rise in transport charges in December. On a monthly basis, consumer prices moved up 2.1% in December versus 1% in November. Prices were forecast to rise by 1.8%.
