Swedish inflation remained unchanged in July at over nine percent, official statistics showed Tuesday, as central bank rate hikes have struggled to rein in rising prices.
Consumer prices in the Scandinavian country rose by 9.3 percent year-on-year in July, the same as the month before.
"In July, the primary price increases were those of package holidays and foods," Carl Martensson, statistician at Statistics Sweden, said in a statement.
"These increases were partially offset by decreasing electricity prices, which contributed to a state of unchanged consumer prices in total."
Rising mortgage costs also contributed 3.1 percentage points to the annual inflation rate, the statistics agency said.
Like its peers in the United States and Europe, Sweden's central bank has repeatedly hiked its guiding rate in an effort to bring down inflation.
Swedish inflation peaked in December at 12.3 percent, a more than 30-year high.
Adjusted for fixed interest rates (CPIF) -- the figure used by the Riksbank to guide monetary policy -- inflation was 6.4 percent in July.
The Riksbank, which hiked its key rate by 0.25 percentage points to 3.75 percent in late June, has a set target to keep inflation under two percent.
For 2023 as a whole, the central bank expects the Swedish economy to contract 0.5 percent, and has forecast unadjusted inflation of 8.9 percent.