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Consumer Price Index (CPI), January 2019

Inflation rate according to CPIF at 2.0 percent

Statistical news from Statistics Sweden 2019-02-19 9.30

The inflation rate according to the CPI with a fixed interest rate (CPIF) was 2.0 percent in January 2019, down from 2.2 percent in December 2018. The CPIF decreased by 1.0 percent from December to January. In the corresponding period last year, the CPIF fell by 0.9 percent. The inflation rate according to the CPI was 1.9 percent in January 2019. The CPI normally drops in January as result of a normal seasonal pattern, in which mainly clothing and footwear prices decrease.

The composition of the consumption basket changes each year. Obsolete goods and services are removed, and new ones emerge. From January, all goods and services also get a new updated weight in the basket. The ‘basket effect’ is the combined effect of the change in the composition of the consumption basket and new weights. In January 2019, the basket effect contributed -0.1 percentage point to the monthly change in the CPI, which is close to the historical average.

Methodological changes are also introduced in January. For more information on changes in the CPI in 2019, see link under ‘Changes in 2019’.

Price decreases in clothing (-13.0 percent) and international flights (-30.8 percent) contributed 0.6 percentage point respectively 0.3 percentage point downwards to the monthly change in the CPI. Lower package holiday prices (-18.6 percent) contributed with a 0.2 percentage point decrease. The cost of accommodation fell by 8.3 percent and the price of mobile phone equipment decreased by 2.8 percent, each of which contributed 0.1 percentage point downwards to the monthly change in the CPI.

These declines were offset by higher housing costs (1.3 percent), which affected the CPI upwards by 0.3 percentage point, of which electricity prices (3.2 percent), actual rentals for housing (0.6 percent) and use of own homes (1.2 percent) each contributed 0.1 percentage point upwards. Higher prices for health services (1.7 percent) and higher prices for various goods and services (1.0 percent) contributed 0.1 percentage point each.

The CPI in January 2019 was 328.56 (1980=100).

The inflation rate according to the Harmonised Index of Consumer Prices (HICP) was 2.0 percent in January 2019, down from 2.2 percent in December 2018. The HICP decreased by 1.1 percent from December to January. In the corresponding period last year, the HICP fell by 0.9 percent.

Changes in 2019

Some adjustments will be introduced in the calculation of the Consumer Price Index and related measures from the January 2019 publication. For further information, see:

Adjustments to the CPI and related measures from 2019 (pdf)

Next publishing will be

2019-03-12 at 09:30.

Statistical Database

More information is available in the Statistical Database

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