Sweden Inflation October 2022

Sweden

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.

FocusEconomics Consensus Forecast panelists see CPIF inflation averaging 4.8% in 2023, which is up 0.3 percentage points from last month’s forecast, and 1.8% in 2024.


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Sweden Inflation October 2022 0

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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