Sweden Inflation


Inflation steady in August

In August, consumer prices increase 0.1% over the previous month, which contrasted the 0.1% decline recorded in July. According to Statistics Sweden (SCB), the reading was influenced by an increase in prices for clothing and footwear.

Headline inflation remained at July's 0.1% and matched market expectations. At the current level, inflation is well below the Central Bank's (Riksbank) target of 2.0%. Meanwhile, annual average inflation remains at July's zero percent.

The core inflation index - defined as the CPI with mortgage rates held constant - increased 0.1% over the previous month in August, while annual core inflation remained unchanged at 1.2%.

According to its September Monetary Policy Report, the Central Bank expects inflation to average 0.1% in 2013 and 1.3% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 0.3% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, the panel sees average inflation at 1.5%.

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Sweden Inflation Chart

Sweden Inflation August 2013

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Sweden (SCB).

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