In brief

• Prices on electricity returned to levels similar to before the summer
• A number of small price increases in October offset the downturn in electricity prices
• The inflation rate was again affected by continued low prices on package holidays
• The inflation rate according to the CPIF, excluding energy, rose from 0.9 to 1.1 percent
• The same product groups as in September were imputed due to the coronavirus pandemic, and accounted for 1.0 percent of the basket

Seasonal patterns and temporary price changes

Price changes on goods and services may be seasonal or temporary. The figure above shows the monthly changes this year and in the two most recent years, for the goods and services with the largest impact on the CPIF monthly change.

Most of the price changes in October were so small that they did not individually contribute to the total CPIF monthly change. The main exception was electricity prices, which fell this month. Prices on electricity also fell in October 2018, but not to the same extent as in this period. Electricity prices have been relatively low throughout the year. Despite upturns in recent months, in October, prices fell again to a level similar to the one in June.

The second exception was recreational and cultural services, in which the contribution came mainly from price returns for the practice of sporting services. During the coronavirus pandemic, there have been several campaigns for different exercise and sporting services. However, in October, prices on offerings have largely returned to normal.

Prices on package holidays remained low

The inflation rate according to the CPIF, that is, the change in the CPIF over the past 12-month period, was 0.3 percent in October 2020. This means that the inflation rate is unchanged from September.

Higher prices on food and non-alcoholic beverages made an upward contribution to the change in the CPIF in October. Prices also increased on furnishings and household goods, as well as housing costs.

This increase was mainly offset by falling prices on electricity. Downward contributions also came from lower prices on fuel, in particular petrol. Other downward contributions came from price declines on telephone equipment and package holidays. Despite a marginal price change between September and October, prices on package holidays remained low compared with the same period a year ago. In October, the range of destinations was more or less the same as last year, albeit with fewer departures and fewer travelers.

The inflation rate according to the CPIF, excluding energy, was 1.1 percent in October, up from 0.9 percent in September.

Effects of the coronavirus pandemic on calculations

Measures in response to the coronavirus pandemic have led Swedish consumers to adapt parts of their consumption. In some cases, stores have closed, but it remains possible to purchase products elsewhere. In other cases, consumption has ceased completely. These developments make calculating the consumer price index particularly challenging.

Due to a lack of consumption, prices on tickets to sporting events, international travel and admission tickets for entertainment have been imputed to some degree. In total, 1.0 percent of the CPI basket was imputed in October based on the year-on-year change in non-imputed product groups. For further information about measurement issues related to the coronavirus pandemic, follow the link below.

Meausurement issues related to the coronavirus pandemic (pdf)

2020-12-10 at 9:30.