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Sweden Inflation March 2023

Sweden: CPIF declines to lowest level since July 2022 in March

Consumer price inflation with a fixed interest fell to 8.0% in March from February’s 9.4%. March’s result marked the weakest inflation rate since July 2022. Despite the downtick, the reading was still markedly above the Riksbank’s 2.0% target. Looking at the details of the release, the moderation was broad-based, with lower price pressures recorded for housing, water, electricity, gas and other fuels, transportation, and food and non-alcoholic beverages. Moreover, prices for recreation and culture also grew at a more subdued pace.

Stil, the trend pointed up mildly, with annual average inflation coming in at 8.7% in March (February: 8.6%). Meanwhile, consumer price inflation fell to 10.6% in March, from the previous month’s 12.0%.

Lastly, consumer prices with a fixed interest rate rose 0.45% in March over the previous month, coming in below the 0.93% rise recorded in February.

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