Swedish inflation rate was minus 0.2 percent in May 2014, down from 0.0 percent in April, according to the Swedish Central Statistics Bureau (SCB) on Thursday.

The main factor behind the inflation figure was the decreased cost of interest rates, which contributed downwards by 0.3 percentage points, according to the SCB.

This decrease was offset by an increase in prices of rents, which contributed upwards by 0.2 percentage points, said the SCB in a statement.