Sweden: Inflation increases to over one-year high in January
February 18, 2021
Consumer prices with a fixed interest rate fell 0.34% from the previous month in January, swinging from the 0.73% rise logged in December. January's result marked the sharpest fall in prices since January 2020. Looking at the details of the release, prices for clothing, and recreation and culture dropped, offset somewhat by higher electricity and fuel costs.
Inflation came in at 1.7% in January, up from December’s 0.5%. January's figure was the highest inflation rate since November 2019. Meanwhile, the trend was unchanged with annual average inflation coming in at December's 0.5% in January.
Author: Stephen Vogado, Economist