In December, Sweden experienced a decline in consumer price inflation, marking the lowest level in four years, primarily due to reduced energy costs, according to the latest figures released by Statistics Sweden on Wednesday.
The Consumer Price Index (CPI) saw an annual increase of 0.8 percent in December, down from the steady 1.6 percent rise reported in November. This figure aligns with the preliminary data released on January 8.
This inflation rate is the most subdued since December 2020, when the rise was only 0.5 percent. Inflation has now remained below the Riksbank's target of 2.0 percent for the fifth consecutive month.
The Consumer Price Index with a fixed interest rate (CPIF) also reflected slower annual growth, increasing by 1.5 percent in December compared to a 1.8 percent rise the previous month, as anticipated.
The data further revealed a slowdown in price growth for food and non-alcoholic beverages, easing to 1.7 percent in December from 1.9 percent in November. Electricity costs dropped by 6.9 percent, while interest expenses for tenant-owned apartments saw a significant reduction of 9.4 percent.
Housing costs experienced a slight annual decrease, a phenomenon last observed in November 2020, as reported by the agency.
On a month-over-month basis, consumer prices remained steady in December, following a 0.3 percent increase in November.
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