”The inflation rate according to CPI was unchanged in December, while the inflation rate according to CPIF and CPIF-XE decreased based on preliminary calculations” says Mikael Nordin, statistician at Statistics Sweden. 

According to preliminary statistics, the inflation rate according to the CPI was unchanged at 0.3 percent from previous month. The monthly change for the CPI from November to December was 0.0 percent.

The preliminary inflation rate according to the CPIF (Consumer Price Index with fixed interest rate) decreased from 2.3 percent in November to 2.1 percent in December. The monthly change for the CPIF from November to December was 0.1 percent.

For CPIF-XE (CPIF excluding energy), the preliminary inflation rate in December was 2.3 percent, which can be compared with 2.4 percent in November. The monthly change for the CPIF-XE from November to December was 0.3 percent.

The CPI flash estimates are preliminary estimates published five working days before the official publication. For the flash estimates, only CPI, CPIF, and CPIF-XE at the aggregated level are published. More detailed information and definitive figures will be available on January 15. 

Read more about the CPI flash estimates here: Information about the CPI flash estimates (scb.se)

Different measures of inflation

Statistics Sweden calculates different measures of inflation for different purposes. In Sweden, the change in the Consumer Price Index (CPI) is the most common measure of inflation, but the CPIF is the measure that the Riksbank uses as its target variable for the monetary policy. The CPIF includes the same goods and services as the CPI. The difference between the CPI and the CPIF is that in the CPIF, household mortgage interest rates are held constant. This means that the effect of changes in household mortgage interest rates is only captured in the CPI and not in the CPIF.

Next publishing will be