Sweden’s CPI inflation stable at 1.6% in October

Sweden’s annual consumer inflation has remained steady at 1.6% in October, the latest data by Statistics Sweden showed.

It has been the lowest inflation rate since July 2021.

In October, inflation slowed for:

– food and non-alcoholic beverages (1.75% YoY from 2.11% YoY in September);
– housing and utilities (3.29% YoY from 4.39% YoY in September);
– healthcare (4.2% YoY from 5.06% YoY in September).

Meanwhile, prices continued to fall for:

– transport (-2.34% YoY versus -3.91% YoY in September);
– communication (-3.52% YoY versus -4.03% YoY in September);
– furnishings and household goods (-1.08% YoY versus -1.65% YoY in September).

And, inflation accelerated for:

– clothing and footwear (2.29% YoY from 1.51% YoY in September);
– restaurants and hotels (4.07% YoY from 3.77% YoY in September).

In the meantime, Sweden’s consumer price index with a fixed interest rate (CPIF), went up 1.5% year-on-year in October, while picking up from 1.1% YoY rise in September.

The Swedish Krona was 0.14% weaker on the day against the Euro, with the EUR/SEK currency pair last trading at 11.6063 ahead of Euro Area’s second estimate for Q3 GDP growth.