Sweden's annual inflation rate rose to 4.3 percent in June from 4 percent in May, mainly due to higher prices on food and fuel, AP quoted the national statistics agency as saying Thursday. Statistics Sweden said higher prices for grain, meat and dairy products helped push up inflation, as did the higher fuel costs. Sweden's central bank last week raised its key interest rate by a quarter of a percentage point to 4.5 percent and said further hikes will be needed during the year to keep inflation in check. Statistics Sweden said increased living costs, which includes higher interest rate costs, also contributed to the higher rate. However, it said this was partly offset by a cut in property taxes. Price cuts in the recreation, culture and telecommunication sectors helped offset the overall inflation rate. Swedish consumer prices rose an average of 0.5 percent from May to June.
