Sweden's consumer price inflation remained stable in November, as confirmed by recent data from Statistics Sweden released on Thursday. The consumer price index (CPI) rose by 1.6 percent year-over-year, consistent with the figures reported in the previous two months and in alignment with the preliminary data released on December 5.
The report highlighted that the consumer price index, adjusted for a fixed interest rate (CPIF), experienced an accelerated increase of 1.8 percent annually in November, compared to a 1.5 percent rise in October, as anticipated. Despite this, inflation remained below the Riksbank's target of 2.0 percent.
The rise in inflation for November was driven by increased rental prices and higher fees for tenant-owned apartments, according to Statistics Sweden. Additionally, food and non-alcoholic beverage prices rose by 1.9 percent compared to the previous year, and prices in the recreation and cultural services sector saw a 1.89 percent increase. Conversely, transport costs continued to decline, with a notable 18.0 percent drop in fuel prices contributing to a 2.27 percent overall decrease.
On a month-to-month basis, consumer prices increased by 0.3 percent in November, following a 0.2 percent rise in October, as projected.
