Sweden: CPI and CPIF inflation both unchanged in July
August 10, 2018
Consumer prices in Sweden rose 0.5% on a month-on-month basis in July according to data released by Statistics Sweden (SCB), up from June’s 0.2%. The SCB’s data showed that July’s price rise was driven by higher prices for transport; and food and non-alcoholic beverages.
The CPI with interest rates held constant (CPIF) remained at 2.2% in July, a smidgeon above the Riksbank’s 2.0% target but firmly within the 1.0%-3.0% tolerance band. CPI inflation was also unchanged at 2.1%, while annual average inflation was stable at 1.9%.
Author: Oliver Reynolds, Economist