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☆ Sweden's central bank raises rates to 4%, in line with expectations
▼ + stars: | 2023-09-21 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Sweden's central bank hiked interest rates for the eighth consecutive time on Thursday, taking the main rate to 4%, as the country continues to battle high inflation. The quarter-point increase is in line with the expectations of analysts polled by Reuters. Sweden's headline inflation, which excludes energy costs, slowed more than expected last month, coming to 7.2% for the month of August, according to Statistics Sweden. The Swedish economy is "going in the right direction," the central bank said in a statement, while nevertheless highlighting that inflationary pressures "are still too high." Stefan Ingves, former central bank governor, in January warned that Sweden was facing its "day of reckoning," as house prices plummeted and the wider economy stuttered.

Persons: Stefan Ingves, I've, Ingves Organizations: Reuters, Statistics Sweden, U.S Locations: Swedish, Sweden

☆ Fact Check-Rioting in Sweden occurred during Eritrean festival, not children's fair
▼ + stars: | 2023-08-09 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

An August riot near the Swedish capital Stockholm took place during an Eritrean cultural festival and not a children’s fair, as suggested by a post on social media. The post (seen here and viewed more than 500,000 times) includes a video and a caption, reading: "Riots yesterday at a children's fair in Sweden." According to local media, protesters marched towards the festival area, got through the police cordons, threw rubbish at the festival participants and set tents and vehicles ablaze. The festival celebrating Eritrean cultural heritage is an annual event that has been taking place since the 1990s, local media says (here). The video shows clashes of supporters and opponents of the Eritrean regime during a festival in Stockholm, not a children’s fair.

Persons: Asa Nilsson Soderstrom, Isaak, Read Organizations: Expressen, YouTube, Eritrean, watchdogs, World Press, SVT, Amnesty International, Statistics Sweden, Reuters Locations: Stockholm, Sweden, Eritrea, Syria, Turkmenistan, Iran, Vietnam, China, North Korea, Swedish, Eritrean

☆ The Unexpected Beyoncé Effect: Hotter Inflation
▼ + stars: | 2023-06-15 | by ( Eshe Nelson | ) www.nytimes.com time to read: +1 min

In Europe’s relentless battle against inflation, another culprit has apparently emerged: Beyoncé. This could explain some of the reason Sweden’s inflation rate was higher than expected in May. Consumer prices in Sweden rose 9.7 percent last month from a year earlier, the country’s statistics agency, Statistics Sweden, said on Wednesday. Michael Grahn, an economist at Danske Bank, said that the start of Beyoncé’s tour might have “colored” the inflation data. “How much is uncertain,” he wrote on Twitter, but it could be responsible for most of the 0.3 percentage point that restaurant and hotel prices added to the monthly increase in inflation.

Persons: Michael Grahn, ” Organizations: Statistics, Danske Bank, Twitter Locations: Stockholm, Sweden, Statistics Sweden

The richest Black mothers and their babies are twice as likely to die as the richest white mothers and their babies. Yet there is one group that doesn’t gain the same protection from being rich, the study finds: Black mothers and babies. The researchers found that maternal mortality rates were just as high among the highest-income Black women as among low-income white women. The richest Black women have infant mortality rates at about the same level as the poorest white women. Generally, rates for Hispanic mothers and Asian mothers track more closely with those of white mothers than Black mothers.

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