Sweden’s central bank raises interest rate to hit inflation

STOCKHOLM (AP) — Sweden’s central bank has raised a key interest rate, citing the highest inflation level since the 1990s. Riksbanken said Thursday that there had been “unusually large fluctuations in inflation in Sweden” and the rise last year “was largely due to rapid increases in energy prices.” The inflation figure for March was at 6.1%. The bank said that since the start of the year, inflation outside also has risen rapidly and been significantly higher than forecast in February. It says the prices of goods and food as well as services are rising unusually quickly. The rate hike will apply starting Wednesday.