Sweden Inflation May 2022

Sweden

Sweden: CPIF jumps to new fresh high in May

June 14, 2022

Consumer prices with a fixed interest rate increased 0.97% over the previous month in May, accelerating from the 0.58% increase seen in April. Looking at the details of the release, food and non-alcoholic beverages prices rose at a quicker pace in May compared to the previous month. Similarly, price pressures for housing and utilities increased at a brisker pace in May.

CPIF inflation in annual terms came in at 7.2% in May, up from April’s 6.4%, and marked, once again, the highest inflation rate since December 1991. Accordingly, the trend pointed up, with annual average inflation coming in at 4.0% in May (April: 3.5%).

FocusEconomics Consensus Forecast panelists see CPIF inflation averaging 5.5% in 2022, which is up 0.9 percentage points from last month’s forecast, and 2.5% in 2023.


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Sweden Inflation May 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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