Headline inflation unchanged at 2.3 in May vs forecast 2.1
Exenergy inflation 3.0 vs 2.9 in April
Riksbank cut rates in May, sees two more cuts this year.

STOCKHOLM, June 14 Reuters The pace of Swedish inflation was higher than expected in May, data showed on Friday, but analysts said they saw inflation tracking down in the months ahead and that the central bank would continue to ease policy after a cut last month.

Inflation, which peaked at over 10 at the end of 2022, has been slowing significantly in recent months and analysts said that the May data had not changed the overall picture.

Consumer prices measured with a fixed interest rate CPIFrose 0.2 from April and 2.3 from the same month last year, the statistics office said.

Excluding volatile energy prices, a measure the Riksbank is currently paying extra attention to, inflation was 3.0 compared to the same month a year ago.

Analysts had forecast May headline inflation in Sweden of 2.1 and inflation excluding energy of 2.7.

Analysts blamed some of the overshoot on three concerts by pop icon Taylor Swift in Stockholm and the final of Eurovision in Malmo in May.

We remain confident that CPIF inflation will undershoot the Riksbank39;s 2 target in the second half of the year, prompting policymakers to cut the policy rate from 3.75 currently to 3.00 by the yearend, Adrian Prettejohn, European Economist at Capital Economics said.

Food, air travel and package holidays pushed up inflation, according to the…