The rate of inflation according to the measure CPI is unchanged between September and October and stands at 1.6 percent, according to Statistics Sweden. Between September and October, rents and charges for housing were raised, energy prices increased while interest costs fell.
– The rate of inflation, according to the CPI, was unchanged in October. This can largely be explained by the fact that lower interest costs were offset by rising energy prices, says Caroline Neander, price statistician at Statistics Sweden.
“Fuel and car rental increased in price, which contributed to the vehicle operation group having a positive effect on the monthly change. In addition, there were price increases in recreation and culture, where prices for television, film and music services contributed upwards,” writes SCB.
Facts: What do CPI and CPIF mean?
In everyday terms, inflation refers to the consumer price increases during a period compared to the price of the same goods and services during the same period a year earlier. Inflation is measured using the consumer price index (CPI), which is based on the pricing of a defined basket of goods and services.
The Riksbank uses another adjusted inflation measure for its inflation target of 2 percent. It is called KPIF and when it is calculated, the changes in household mortgage interest rates are removed.
The underlying inflation or “core inflation” is described by other alternative measures of inflation. In Sweden, the measure CPIF excluding energy is most often used, where in addition to mortgage interest effects, energy price changes are also removed. In other countries, food prices are also removed when talking about underlying inflation.
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