Sweden’s preliminary October figures show slower annual inflation in the fixed-interest measure used by its central bank. Overall consumer prices were unchanged from September, while the measure excluding energy fell over the month. The release provides an early view of October prices, with detailed and definitive figures scheduled for November 12.
Sweden’s annual inflation measured with mortgage interest rates held constant fell to 1.1 per cent in October from September’s 1.5 per cent. The preliminary figures come from Statistics Sweden, the national statistical agency. The ordinary consumer price index showed annual inflation of 0.9 per cent, compared with 1.1 per cent in September. Both indices posted a monthly change of 0.0 per cent.[1], [2]
Removing energy from the fixed-interest calculation brings annual October inflation to 0.1 per cent, down from 0.5 per cent in September. That index fell 0.2 per cent over the month. The ordinary consumer index and fixed-interest index cover the same goods and services. Their difference concerns mortgage rates: the ordinary calculation includes rate changes, while the fixed-interest measure keeps rates constant. Sweden’s central bank, the Riksbank, uses the latter as its monetary-policy target variable.[1]
The flash estimate is released five working days before the regular statistics. It supplies preliminary aggregate rates and changes for divisions and special aggregates. The October numbers remain provisional. Statistics Sweden has scheduled detailed and definitive October results for November 12, followed by the next flash inflation release on December 4.[1]
