Home Business Sweden has the highest inflation rate since 1991 WGN Radio 720

Sweden has the highest inflation rate since 1991 WGN Radio 720

88
0

COPENHAGEN, Denmark (AP) – Inflation in Sweden rose last month to its highest level since 1991, officials said Thursday as countries around the world struggle with rising prices exacerbated by Russia’s war in Ukraine.

The consumer price index in April rose by 6.4% over the same period last year and rose from 6.1% in March, according to official statistics from Statistics Sweden.

In April, “prices continued to rise sharply, including food, household equipment, restaurants and hotels,” said statistician Mikael Nordin.

High energy prices have also contributed to inflation, a key factor in the rest of Europe and other parts of the world amid fears that the war could cut off oil or natural gas supplies from Russia.

Swedish statistics said food prices rose, with meat and vegetables being the “main cause” of growth. Clothing and books rose seasonally, while prices for furniture and household appliances “rose six months in a row.”

Prices for repairs and maintenance of housing, transport and other goods and services have also risen, the agency said.

Sweden, which is a member of the European Union, is not among the 19 countries that use the euro. Last month, annual inflation in the eurozone reached a record high of 7.5%.

Last month, U.S. consumer prices jumped 8.3% year-over-year, staying close to a four-year high.

https://wgnradio.com/news/business-news/sweden-sees-highest-inflation-rate-since-1991/

Previous articleGoogle can go the way of Apple, as the Pixel Watch is only designed to work with Android phones
Next articleAfter the Clarendon Hills Metra crash the BNSF stop remains closed; trains run on a weekend schedule while the investigation continues