Inflation below target

Published 12 July 2024 at 08.21

Economy. For the first time in three years, the inflation rate according to CPIF is below the target of two percent. The measure fell to just 1.3 percent in June.

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The CPI inflation rate was 2.6 percent in June 2024, down from May when it was 3.7 percent. The monthly change from May to June was -0.1 percent according to the CPI.

The inflation rate according to the CPIF (consumer price index with fixed interest rate) was at the same time 1.3 percent in June.

The Riksbank's goal is to inflation should be 2 percent per year measured by the CPIF, and now it appears more likely that the Riksbank will lower the interest rate at the next meeting.

The monthly change in the CPI in June was influenced, among other things, by lower prices for clothing, which is usual for the month of June. There were also price reductions for hotel visits and recreational and cultural services.

The price reductions were mainly offset by seasonally normal price increases for package tours. Electricity and transport services also increased in price from May to June.

The base price amount for the year 2025 has been calculated at SEK 58,800. This means an increase of SEK 1,500 compared to the price base amount for the year 2024.