Sweden Inflation

Sweden

Sweden: Consumer prices swing to 20-month high in June

July 10, 2014

In June, consumer prices increased 0.2% over the previous month, which was up from the 0.1% increase recorded in May. According to Statistics Sweden (SCB), an increase in prices for transportation, package holidays and fuel offset lower prices for clothing and electricity.

Consumer prices increased 0.2% over the same month last year in June, which contrasted the 0.2% decrease registered in May and marked the highest reading since October 2012. However, inflation remains well below the Central Bank’s target of 2.0%. Annual average variation in consumer prices held steady at May’s minus 0.1% in June.

Meanwhile, annual core inflation, defined as the CPI with mortgage rates held constant, picked up from 0.4% in May to 0.8% in June.

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 June 2014

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


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