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Monthly indicator of household consumption, February 2023

Household consumption decreased in February 2023

Statistical news from Statistics Sweden 2023-04-06 8.00

Household consumption decreased by 0.5 percent in February 2023, measured in seasonally adjusted figures, compared with January 2023. Compared with February 2022, household consumption decreased by 1.4 percent, measured in fixed prices and working day adjusted figures. In the last three-month period, consumption decreased by 0.7 percent in fixed prices and working day adjusted figures, compared with the same period a year ago.

The largest weighted negative contribution came from the sector Retail trade, mostly food and beverages, which decreased by 7.7 percent in fixed prices compared with February a year ago.

Restaurants, cafes, hotels and other accommodation services accounted for the largest weighted positive contribution to total consumption and increased by 10.4 percent in fixed prices compared with February a year ago. The comparison should take into account that Covid restrictions for restaurants were applied in the beginning of February 2022.

To consider

Under present circumstances with broad price increases on consumer goods, consumption patterns may change. Consumers may choose cheaper alternatives for goods that have become more expensive (so called substitution). This might lead to an underestimation of household consumption measured in fixed prices. This might mostly be a concern for the sector Retail trade, mostly food and beverages, but can also be a factor within other sectors.

Seasonally adjusted monthly development
Namnlös

Working-day adjusted yearly development
Namnlös

Next publishing will be

The next statistical news in this series is scheduled for publication on 2023-05-10 at 08:00.

Statistical Database

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Statistics Sweden, Innovation, Business sector production and Research section

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