Sweden Inflation September 2022

Sweden

Sweden: CPIF comes in at highest level since June 1991 in September

October 13, 2022

Consumer price with a fixed interest rate inflation soared to 9.7% in September, up from August’s 9.0%. September's reading marked the highest inflation rate since June 1991. Looking at the details of the release, prices for housing, water, electricity, gas and other fuels rose at a quicker rate in September and prices for food and non-alcoholic beverages accelerated. Meanwhile, prices for transportation were largely in line with the previous month's reading.

Accordingly, the trend pointed up, with annual average inflation coming in at 6.2% in September (August: 5.6%). Meanwhile, consumer price inflation rose to 10.8% in September, from August’s 9.8%.

Lastly, consumer prices with a fixed interest rate rose 1.14% over the previous month in September, slowing down from August's 1.47% rise.

FocusEconomics Consensus Forecast panelists see CPIF inflation averaging 7.3% in 2022, which is up 0.5 percentage points from last month’s forecast, and 4.5% in 2023.


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Sweden Inflation September 2022

Note: Year-on-year and month-on-month variation of consumer price index with a fixed interest rate (CPIF) in %.
Source: Statistics Sweden (SCB).


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