Sweden Inflation

Sweden

Sweden: Inflation steady in October

November 12, 2015

In October, consumer prices rose 0.1% over the previous month. The result was down from the 0.4% increase recorded in September and was in line with market expectations. According to Statistics Sweden (SCB), higher prices for package holidays, vegetables and clothing and footwear drove October’s result.

Inflation in October was unchanged at September’s 0.1% increase. October’s tally marks the second annual increase in prices since May and will ease pressure on the Central Bank, which has been combatting falling prices with unconventional policy measures, including negative policy rates and a government bond-buying program. Annual average variation in consumer prices held at minus 0.1% in September for the eight consecutive month.

Meanwhile, annual core inflation—defined as the CPI with mortgage rates held constant—was 1.1% in October, which was slightly up from the 1.0% increase tallied in September.

The Central Bank expects inflation to average a flat reading in 2015 and sees it picking up to 1.8% in 2016. FocusEconomics Consensus Forecast panelists expect inflation to average 0.1% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees average inflation at 1.3%, which is also unchanged from last month’s forecast.


Author:, Economist

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Sweden Inflation Chart


Sweden Inflation October 2015 0

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Sweden (SCB).


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