October 12, 2016 / 7:46 AM / a year ago

Swedish firms see only moderate price hikes ahead-Riksbank survey

STOCKHOLM, Oct 12 (Reuters) - Price pressure in Sweden is expected to remain subdued as a result of increased e-commerce and tough competition, Sweden’s central bank said in a summary of a survey of business sentiment on Wednesday.

In the retail sector, the central bank said companies reported higher labour and purchasing costs but that it was still difficult to pass those on to consumers.

“A very moderate upward adjustment in prices can be expected,” the summary said. “Stiff competition and rapid structural transformation within the retail trade, partly due to increased sales within e-commerce, are continuing to hold back prices.”

Companies were more pessimistic about the economic outlook than at any time in the last three years, the Riksbank said.

The survey is published three times a year. Representatives of 42 companies with a total of around 243,000 employees in Sweden were interviewed. (Reporting by Stockholm Newsroom; Editing by Simon Johnson)

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