Sweden: Inflation eases to a near three-year low in September
October 11, 2012
In September, consumer prices rose 0.4% over the previous month, which was above the 0.1% rise recorded in August. According to Statistics Sweden (SCB), the reading was mainly influenced by higher prices for clothing and footwear as well as for fuel. Despite the monthly price increase, annual headline inflation eased from 0.7% in August to 0.4% in September, the lowest level in 32 months, which is well below the Central Bank's (Riksbank) inflation target of 2.0%. In addition, annual average inflation edged down from 1.8% in August to 1.5% in September. Meanwhile, the core inflation index - defined as the CPI with mortgage rates held constant - added 0.7% over the previous month, driving annual core inflation to 0.9% in September (August: +0.9%).