Sweden Inflation October 2021

Sweden

Sweden: Inflation comes in at highest level in 13 years in October

November 15, 2021

Consumer prices with a fixed interest rate increased 0.23% in October over the previous month, moderating from September's 0.53% rise. Looking at the details of the release, falling prices for housing and electricity led to the lower result, tempered by rebounding transport costs.

CPIF inflation in annual terms increased to 3.1% in October, following September’s 2.8% print. October's reading was the highest inflation rate since September 2008. As such, the trend pointed up mildly, with annual average inflation edging up to 1.8% in October (September: 1.6%).

FocusEconomics Consensus Forecast panelists see CPIF inflation averaging 1.9% in 2022, which is up 0.2 percentage points from last month’s forecast, and 1.7% in 2023.


Author:, Economist

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Sweden Inflation October 2021

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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