The Consumer price inflation in Sweden attained a value of 2.86 % in 2024
The indicator recorded a historical change (bps difference) of 69 bps between 2021 to 2024, and is expected to grow by...
GlobalData projects the figure to change by 47 bps between 2025 and 2029, reaching...
Inflation
Inflation is the term used to describe an increase in the price of goods and services within an economy that reduces the purchasing power of the currency. It is calculated as the rate of price change over a specific period. The consumer price index is one of the most used measures for determining inflation in an economy (CPI).
Global Inflation
The average yearly rate of growing rise in national prices across all nations is what is known as global inflation. There are several ways to compute it, including the basic average, weighted average, and median price change. Due to supply chain disruption brought on by the conflict between Russia and Ukraine, the global inflation rate is predicted to increase to 6.5 percent in 2022 from 3.5 percent in the previous year. Between 2021 and 2022, the annual inflation rate increased in most nations, although it increased at some of the greatest rates in Europe, Brazil, Turkey, the United States, and Israel. Nearly half of the Eurozone nations experienced double-digit inflation by June 2022, and the region's average inflation rate hit 8.6 percent, the highest level since the currency union in 1999.
Consumer Price Inflation in Sweden
Between 2018-2021, the consumer price inflation in Sweden was highest in the year 2021, reaching 2.2%, an increase of 3.0% over the previous year 2020. Between 2018 to 2021, Sweden’s consumer Inflation increased by 0.1%.
In 2021, inflation rose to 2.2%, due to supply chain constraints arising from the COVID-19 crisis. According to Statistics Sweden, the inflation rate rose to 7.2% in May 2022, the highest since December 1991 fueled by rising energy and commodity costs. With a pickup in global demand along with rising in food and oil prices, inflation is forecast to reach 4.7% in 2022, according to Global Data. The annual average rate of inflation is forecast at 2.9% in 2022–24.
Factors that Impact Inflation Rate
Some of the major factors affecting consumer prices are government policies, money supply, consumer spending, employment levels, high disposable income, and wage levels. Interest rates can also have a significant impact on spending on consumer goods.
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