Sweden Producer Prices Fall At Fastest Pace In 5 Years

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Sweden’s producer price declined the most in five years in May, figures from Statistics Sweden showed on Friday.

The producer price index declined 3.8 percent year-on-year in May, following a 3.0 percent decrease in April. This was the fifth consecutive fall in prices.

The latest fall in prices was the biggest since May 2016, when prices were down 4.5 percent.

Import prices declined 5.7 percent yearly in May and decreased 0.8 percent from a month ago.

Export prices declined 4.0 percent annually in May and fell 1.3 percent from the previous month.

On a monthly basis, producer prices fell 0.9 percent in May.

Separate data from the statistical office showed that the retail sales rose 2.4 percent yearly in May, after a 1.4 percent fall in April.

Retail sales in consumables, excluding sales at the state-owned chain of liquor stores, fell by 1.2 percent, while retail sales in durables increased by 4.0 percent.

On a monthly basis, retail sales rose a seasonally adjusted 0.5 percent in May.

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