Sweden's inflation rate has experienced a sharper decline than anticipated, according to the latest figures. Statistics Sweden reported that the consumer price index with interest rates stripped out, known as the CPIF measure, dropped to 1.1 percent in October.
This preliminary estimate marks a notable decrease from the 1.5 percent recorded in September. The new figure places Swedish inflation well below the Riksbank's 2.0 percent target. Furthermore, the result was significantly lower than market forecasts, which had expected a rate of 1.4 percent, as reported by Bloomberg.
The data was released only one day after the Riksbank announced a decision to increase its key policy rate to 2.0 percent. Underlying inflation, which excludes volatile energy prices, also showed a downward trend, falling from 0.5 percent in September to 0.1 percent in October.
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