The small increase in the Riksbank’s target CPIF measure of inflation, which excludes the effect of changes in interest rates, from 2.2% in March to 2.3% in April, was broadly as expected (consensus 2.4%, CE 2.4%). But the increase was due to higher transport fuel prices, and the measure was still well below the Riksbank’s March forecast that it would be 2.7% in April.
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