Sweden: Consumer prices fall back into negative territory in May
June 12, 2014
In May, consumer prices increased 0.1% over the previous month, which was down from the 0.4% increase recorded in April. According to Statistics Sweden (SCB), an increase in prices for accommodation services, package holidays and electricity was offset by a large drop in prices for airline tickets.
Consumer prices decreased 0.2% over the same month last year in May, which was down from the flat reading registered in April. Inflation remains well below the Central Bank’s target of 2.0%. Annual average variation in consumer prices held steady at April’s minus 0.1% in May.
Meanwhile, annual core inflation, defined as the CPI with mortgage rates held constant, decreased from 0.5% in April to 0.4% in May.
Author: Carl Kelly, Economist