Fresh figures from Statistics Sweden show that inflation decreased in October. Now it stands at 9.3 percent.
“It is a decline from September, when the inflation rate was 9.7 percent. The monthly change from September to October was -0.1 percent,” writes Statistics Norway in a press release.
At the same time, the electricity price fell by almost 24 percent between September and October, according to the report.
– Electricity prices go down in October, but they are still higher than last year, says Sofie Öhman, price statistician at Statistics Sweden, in the press release.
More expensive to buy vegetables
At the same time, fuel prices increased, partly as a result of the temporary tax cut ending. Food, and above all vegetables, as well as non-alcoholic beverages also had a price increase.
– It was about as expected. The glass is half full, says SVT’s economic commentator Alexander Norén in Morgonstudion and continues:
– If you remove the effect of electricity prices, it doesn’t look as good. The inflation rate excluding energy rose from 7.4 to 7.9. This means that all other goods have become more expensive. You cannot say that “now things have turned”.
“Could mitigate the whole thing”
According to Alexander Norén, the announcement also means that the Riksbank will probably not make a more aggressive interest rate increase than at least 0.5 percent on November 24.
– This could mitigate the whole thing.
KPIF shows the price trend for all products and services that households consume, but excludes the effect of changed interest rates on household mortgages.