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Sweden Inflation April 2023

Sweden: CPIF falls to 11-month low in April

Consumer price inflation with a fixed interest eased to 7.6% in April, following March’s 8.0%. April’s figure marked the lowest inflation rate since May 2022. Despite the downtick, the reading remained well above the Riksbank’s 2.0% target. Looking at the details of the release, the moderation was chiefly due to a softer increase in prices for food and non-alcoholic beverages. This more than offset prices for housing, water, electricity, gas and other fuels and for transportation increasing at quicker paces in April.

Still, the trend pointed up slightly, with annual average inflation coming in at 8.8% in April (March: 8.7%). Meanwhile, consumer price inflation edged down to 10.5% in April, from the previous month’s 10.6%.

Lastly, consumer prices with a fixed interest rate rose 0.20% over the previous month in April, which was below the 0.45% increase logged in March. April’s result marked the weakest reading since January.

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