Sweden sees highest inflation rate since 1991

COPENHAGEN, Denmark — Inflation in Sweden elevated final month to its highest degree since 1991, officers mentioned Thursday, as nations worldwide grapple with surging costs exacerbated by Russia’s struggle in Ukraine.

The patron value index rose 6.4% in April from a 12 months in the past and was up from 6.1% in March, in keeping with official figures from Statistics Sweden.

There was a “continued widespread value enhance in April, together with meals, family tools, restaurant visits and lodges,” statistician Mikael Nordin mentioned.

Excessive vitality costs additionally have been fueling inflation, a key consider the remainder of Europe and different elements of the world amid fears that the struggle might result in an interruption of oil or pure fuel provides from Russia.

Statistics Sweden mentioned meals costs elevated, with meat and greens being “the primarily contributors” for the hike. Clothes and books noticed seasonal value will increase, whereas furnishing and family tools costs “have now risen for six consecutive months.”

Costs additionally elevated for residence repairs and upkeep, transportation and different items and providers, the company mentioned.

Sweden, a member of the European Union, just isn’t among the many 19 nations that use the euro forex. Annual inflation within the eurozone hit a record-high 7.5% final month.

The U.S. noticed client costs leap 8.3% final month from a 12 months in the past, remaining near four-decade excessive.