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.
Author: Lindsey Ice, Economist