Swedish inflation slows down more than expected in November

Swedish inflation eased more than expected in November, data from the statistics office showed on Thursday, supporting expectations that the central bank will leave its policy rate unchanged later this month.

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Headline consumer prices in Sweden fell 0.38 in November from October and were up 2.38 from the same month a year ago, flash figures from the statistics office showed.

Stripping out volatile energy prices, inflation was 2.4% on an annual basis while prices fell 0.6% compared to October.

All the figures showed the pace of inflation below analysts’ forecasts. “We keep our view that the Riksbank will stay on hold in December and probably also next year,” Nordea economist Torbjorn Isaksson said in a note.