Energy prices push Swedish inflation to 1.5%

Swedish inflation rose to 1.5% in September from 0.7% in August, driven mainly by energy prices. Excluding energy, the annual rate stayed at 0.5%.

The preliminary figures from Statistics Sweden use CPIF, the measure that holds mortgage interest rates fixed. Prices on that measure rose 0.9% between August and September.

The gap between the two annual rates matters: the rise in headline inflation does not mean that price increases accelerated equally across the household shopping basket. Energy accounted for the main upward pressure.

On the CPI measure, which includes the effects of changing mortgage interest rates, annual inflation rose to 1.1% from 0.3%.

These are early estimates. Statistics Sweden will publish the final September figures on 14 October at 08:00.

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