STOCKHOLM, June 13 (Reuters) - Consumer-focused companies are struggling to raise prices amid tough competition and are facing additional pressure from a weaker crown currency, a thrice yearly business survey by the Swedish central bank showed on Wednesday.
“Tough competition is making it difficult to raise prices and a lot of work is being expended on cutting costs to improve profitability,” the Riksbank said in a statement on the results of the survey.
“The recent weakening of the krona is increasing purchasing costs for imported goods and services.”
Headline inflation has picked up over the last 18 months and is close to target, but the central bank remains worried about price pressure and has pushed back its plans for rate hikes.
Reporting by Stockholm Newsroom; editing by Niklas Pollard