Sweden Inflation June 2022

Sweden

Sweden: CPIF comes in at highest level in over three decades in June

July 14, 2022

Consumer prices with a fixed interest rate rose 1.25% from the previous month in June, accelerating from the 0.97% rise seen in May. Looking at the details of the release, the reading was primarily due to rising prices for housing, water, electricity, gas and other fuels. In addition, price pressures for transportation also accelerated.

CPIF inflation rose to 8.5% in June, above May’s 7.2%. June's reading marked the highest inflation rate since July 1991. Consequently, the trend pointed up, with annual average inflation coming in at 4.5% in June (May: 4.0%).

FocusEconomics Consensus Forecast panelists see CPIF inflation averaging 5.9% in 2022, which is up 0.4 percentage points from last month’s forecast, and 2.8% in 2023.


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Sweden Inflation June 2022

Note: Year-on-year and month-on-month variation of consumer price index with a fixed interest rate (CPIF) in %.
Source: Statistics Sweden (SCB).


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