Sweden Inflation

Sweden

Sweden: Consumer prices flat in July

August 12, 2014

In July, consumer prices decreased 0.3% over the previous month, which contrasted the 0.2% increase recorded in June and marked the lowest result since January. According to Statistics Sweden (SCB), the reading was driven mainly by a large drop in prices for clothing and footwear.

Consumer prices were flat over the same month last year in July, which was below the 0.2% increase registered in June. Inflation remains well below the Central Bank’s target of 2.0%. Annual average variation in consumer prices held steady at June’s minus 0.1% in July.

Meanwhile, annual core inflation, defined as the CPI with mortgage rates held constant, inched down from 0.8% in June to 0.6% in July.

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 July 2014

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


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