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Sweden Inflation September 2023

Sweden: CPIF declines to lowest level since January 2022 in September

Consumer price inflation with a fixed interest (CPIF) dropped to 4.0% in September from August’s 4.7%. September’s result marked the weakest inflation rate since January 2022; despite the downtick it was still double the Riksbank’s 2.0% target. Looking at the details of the release, the moderation chiefly reflected prices for housing, water, electricity, gas and other fuels increasing at a weaker pace in September. This more than offset prices for transportation rising a stronger rate.

Accordingly, the trend pointed down, with annual average inflation coming in at 7.6% in September (August: 8.1%). Meanwhile, consumer price inflation fell to 6.5% in September, from August’s 7.5%.

Lastly, consumer prices with a fixed interest rate rose 0.39% over the previous month in September, contrasting the 0.09% drop seen in August.

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