NORWAY: According to official data released on Friday, Sweden's producer price inflation slowed to a five-month low in July while the jobless rate fell for the first time in three months.

According to Statistics Sweden data, the producer price index increased by 20.4 percent year over year in July, which was less than the 25.6 percent increase in June.  Since prices rose 19.3 percent more in February, this was the smallest rate of growth. Prices for energy-related products increased by 55.6 percent from the previous year, while those for consumer items increased by 14.4 percent. Producer prices decreased 1.5 percent on a monthly basis in July. On a monthly basis, producer prices dropped 1.5 percent in July. Data also indicated that import prices scaled up sharply by 32.0 percent yearly in July and rose 0.6 percent from a month ago.

In July, export prices rose 21.1 percent over the same month last year while declining 1.8 percent from June. Separate data from the statistical office indicated that the jobless rate decreased to 6.4 percent in July from 8.6 per cent in the previous month.

In July, there were 373,000 unemployed people, which is 82,000 fewer than in the corresponding month in 2016.
In the meantime, the employment rate increased to 71.7 percent in July from 70.7 percent the previous month.

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