Sweden: CPIF soars to over three-decade high in August
Consumer price with a fixed interest rate inflation jumped to 9.0% in August, up from July’s 8.0%. August’s result represented the highest inflation rate since July 1991. Looking at the details of the release, food and non-alcoholic beverages prices rose at a quicker pace in August compared to the previous month, which wasn’t enough to offset easing price pressures for transportation.
Consequently, annual average inflation rose to 5.6% in August (July: 5.1%). Meanwhile, consumer price inflation rose to 9.8% in August, from the previous month’s 8.5%.
Finally, consumer prices with a fixed interest rate rose 1.47% from the previous month in August, contrasting July’s 0.16% drop. August’s result marked the highest reading since March.