Sweden Inflation


Sweden: Annual decline in consumer prices accelerates in November

December 12, 2014

In November, consumer prices decreased 0.1% over the previous month, which contrasted the 0.1% increase recorded in October and marked the lowest reading in four months. According to Statistics Sweden (SCB), October’s print was mainly the result of lower prices for international flights, package holidays, fuel and interest rate costs. Conversely, clothing recorded higher prices than the previous month.

Consumer prices fell 0.2% in November over the same month last year, which followed the 0.1% decrease tallied in October. As a result, inflation continued to hover in negative territory and remains well below the Central Bank’s target of 2.0%. Annual average variation in consumer prices inched down from minus 0.1% in October to minus 0.2% in November.

Meanwhile, annual core inflation—defined as the CPI with mortgage rates held constant—held steady at October’s 0.6% in November.

The Central Bank expects inflation to be flat in 2014 and to average 1.3% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 1.0% in 2014, which is unchanged from last month’s forecast. For 2015, the panel sees average inflation at 1.9%, which is up 0.1 percentage points from last month’s Consensus.

Author:, Economist

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Sweden Inflation Chart

Sweden Inflation November 2014

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

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