Sweden's core inflation unexpectedly increased to 3% in May due to Taylor Swift concerts and Eurovision.
Sweden's core inflation unexpectedly increased in May to 3%, driven partly by Taylor Swift fans attending her concerts and the Eurovision Song Contest. This higher-than-expected rate may not significantly impact the central bank's course of action, as the effects are expected to be short-lived. The May inflation rise is a setback for the Riksbank, which had been reducing borrowing costs.
June 14, 2024
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