Sweden: CPIF softens in October
November 15, 2022
Consumer price inflation with a fixed interest rate decelerated to 9.3% in October, down from September’s 9.7%. Looking at the details of the release, the moderation was largely driven by softer growth in prices for housing, water, electricity, gas and other fuels. This more than offset prices for food and non-alcoholic beverages, and for transport growing at brisker paces.
Still, the trend pointed up; annual average inflation rose to 6.7% in October (September: 6.2%). Meanwhile, consumer price inflation rose to 10.9% in October, from September’s 10.8%.
Finally, consumer prices with a fixed interest rate dropped 0.12% over the previous month in October, swinging from the 1.14% increase logged in September. October's result marked the sharpest fall in prices since July.