Swedish inflation falls to 0.9 percent in October

Inflation in Sweden fell to 0.9 percent in October, according to preliminary figures from Statistics Sweden (SCB), SVT reported. The rate was 1.1 percent in September.

Consumer prices were unchanged from the previous month in September. “Preliminary calculations show a subdued rate of inflation in October,” said Mikael Nordin, a price statistician at SCB.

Inflation measured by the CPIF, which excludes the effect of changes in mortgage interest rates, fell to 1.1 percent from 1.5 percent in September. That was below market expectations of 1.4 percent, according to TT, and below the Riksbank’s 2 percent inflation target.

The figures were published a day after the Riksbank raised its policy rate to 2 percent. Excluding energy prices, the CPIF-XE inflation rate fell to 0.1 percent in October from 0.5 percent in September.

SCB’s preliminary figures do not show which goods and services had the largest price increases or decreases. Final inflation figures are due on November 12.