Swedish Deflation Shock Delivers Blow to Ingves on Prices
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Riksbank Governor Stefan Ingves’s pledge that Sweden will avoid a deflationary spiral was overshadowed by a report today revealing that prices sank twice as much as policy makers had estimated.
Consumer prices dropped 0.6 percent in March from a year earlier, the most since November 2009, Stockholm-based Statistics Sweden said today. The krona plunged as much as 1 percent to 9.0668 after the numbers were published.