Swedish inflation rises for the 2nd straight month in Nov, hits 56-month high

Statistics Sweden released Sweden's inflation data on Tuesday which showed that Sweden's consumer price inflation accelerated for the second straight month in November to the highest level in more than four-and-a-half years.

Swedish consumer price index rose 1.4 percent year-over-year in November, at a faster pace than the 1.2 percent rise seen in the previous month. The figure was in line with consensus estimate. Month-on-month, consumer prices in November were unchanged from the previous month, as expected by economists, following a 0.3 climb in October.

November's inflation rate was the strongest since March 2012, when prices had grown 1.5 percent. A 3.4 percent increase in prices for electricity and other fuels was seen as the main driver.

Underlying inflation rate came in at 1.6 percent in November, up from 1.4 percent a month ago, in line with economists' expectations. On a monthly basis, underlying consumer prices edged up 0.1 percent from October, when it grew by 0.4 percent.

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