Inflation steady in November

The latest data of the Central Statistical Bureau (CSB) show that during the year (in November 2017, compared to November 2016) the average level of consumer prices rose by 2.7 %.

Prices of goods grew by 2.7 % and prices of services by 2.9 %.

Compared to October 2017, in November 2017 the average level of consumer prices went up by 0.1 %. Prices of goods grew by 0.3 %, while prices of services fell by 0.3 %.

Commenting on the data, Swedbank said: ''As the cyclical expansion continues and labor market keeps tightening, inflation will not step back. Robust growth and falling unemployment will make labor shortages more heartfelt. It will contribute to further rapid wage growth which in turn will keep inflation elevated... Taking into account all these effects, next year the gross wage growth is expected close to 10% (net – above 10%) while annual average inflation – around 3.5%."

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