Sweden Inflation


Sweden: Annual decline in consumer prices moderates in October

November 11, 2014

In October, consumer prices increased 0.1% over the previous month, which was below the 0.2% increase recorded in September. According to Statistics Sweden (SCB), October’s print was mainly the result of higher prices for food and non-alcoholic beverages, as well as for transport services. Conversely, electricity and fuels recorded lower prices than the previous month.

Consumer prices fell 0.1% in October over the same month last year, which was above the 0.4% decrease tallied in September, marking the highest reading in three months. Nevertheless, 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 held steady at minus 0.1% for the thirteenth consecutive month.

Meanwhile, annual core inflation—defined as the CPI with mortgage rates held constant—ticked up from 0.3% in September to 0.6% in October.

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 0.0% in 2014, which is unchanged from last month’s forecast. For 2015, the panel sees average inflation at 1.2%, which is down 0.1 percentage points from last month’s Consensus.

Author:, Economist

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Sweden Inflation Chart

Sweden Inflation October 2014

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

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