Sweden: Consumer prices fall to six-month low in September over the same month last year
October 14, 2014
In September, consumer prices increased 0.2% over the previous month, which contrasted the 0.1% decrease recorded in August. According to Statistics Sweden (SCB), September’s print was the result of higher prices for clothing, which were partially offset by lower prices for food and international flights.
Consumer prices fell 0.4% in September over the same month last year, which was below the 0.2% decrease tallied in August and marked the lowest reading in six months. 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 twelfth consecutive month.
Meanwhile, annual core inflation—defined as the CPI with mortgage rates held constant—ticked down from 0.5% in August to 0.3% in September.
Author: Cecilia Simkievich, Economist