Sweden Inflation

Sweden

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.

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 May 2014

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


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