The inflation rate according to the CPI was 3.7 percent in May 2024, down from 3.9 percent in April. On a monthly basis, the CPI index increased by 0.2 percent from April to May. The inflation rate according to the CPIF (Consumer Price Index with fixed interest rate) was 2.3 percent in May, which was also noted in April.
'The inflation rate fell in May, even though most service prices increased. It was the electricity prices which mainly contributed to the decline,' says Caroline Neander, statistician at Statistics Sweden.
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The CPI increased by 0.2 percent from April to May. In the corresponding period a year ago, prices increased by 0.3 percent. The monthly change in May was mainly contributed to by several price rises in transport services like car rental, railway, and air travel. Likewise, there were price increases for hotel visits, package holidays, and food. The price increase was dampened by lower electricity and fuel prices.
During the past 12 months, there have been price increases in services such as restaurant visits, transport services, and recreational and cultural services. Furthermore, there have been price increases in food and clothing. The inflation rate according to CPIF, which unlike CPI is not affected by changes in mortgage interest rates, was 2.3 percent in May, which is unchanged compared to April.
More information:
Statistics Sweden
www.scb.se