Sweden's producer price inflation sees first rise in 16-months

Data released by Statistics Sweden on Thursday showed that Sweden's producer price inflation rose 2.2 percent year-over-year between September and October, reversing a 0.1 percent slight decrease in the previous month.

This was the first rise after falling in the previous fifteen months, figures from Statistics Sweden showed. On a monthly basis, producer prices were up 2.0 percent from September, when it dropped by 0.1 percent.

There was a seasonally normal price increase for the prices of district heating, which contributed most to the upturn on the domestic market in October. Prices for domestic supply, combining both domestic and import market, increased 1.8 percent yearly and by 2.1 percent monthly in October.

On the export market, higher prices for electricity contributed to the increase. The major contribution to the increase on the import market was higher prices for crude oil. Import prices grew 1.3 percent annually in October and went up 2.3 percent from a month earlier.