Sweden Inflation May 2019

Sweden

Sweden: CPI and CPIF inflation accelerate in May

June 14, 2019

The consumer price index (CPI) rose 0.3% month-on-month in May, down from the 0.7% increase logged in April. Higher prices for food and non-alcoholic beverages; clothing and footwear; and health were partially offset by lower housing and utilities; transport; and communication costs. CPI inflation inched up to 2.2% in May from 2.1% in April. Core CPI inflation, which excludes volatile energy costs, hit 2.1% in May, up from 2.0% in April.

The CPI with a fixed interest rate (CPIF)—a key metric followed by the Central Bank—ticked up to 2.1% in May from 2.0% in April, a notch above the mid-point of the Central Bank’s 1.0%–3.0% tolerance band but matching the Central Bank’s projection. Core CPIF inflation rose to 1.7% in May from 1.6% in April.

FocusEconomics panelists expect CPI inflation to average 1.8% in 2019, which is unchanged from last month’s forecast, and 1.8% in 2020. Our panelists see CPIF inflation averaging 1.8% in 2019 and 1.8% again in 2020.


Author:, Economist

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Sweden Inflation May 2019 1

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


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