Sweden Inflation

Sweden

Sweden: Consumer prices decline again in August

September 11, 2014

In August, consumer prices decreased 0.1% over the previous month, which was up from the 0.3% decrease recorded in July. According to Statistics Sweden (SCB), the reading was driven mainly by a drop in prices for package holidays, as well as lower prices for food and fuel.

Consumer prices were down 0.2% in August over the same month last year, which was below the flat reading registered in July and marked the sixth negative reading in the past year. Inflation 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 eleventh straight month.

Meanwhile, annual core inflation, defined as the CPI with mortgage rates held constant, edged down from 0.6% in July to 0.5% in August.

The Central Bank expects inflation to average 0.6% in 2014 and 2.5% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 0.3% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel sees average inflation at 1.6%.


Author:, Economist

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Sweden Inflation Chart


Sweden Inflation August 2014

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


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