Inflation rises: "Rising energy prices"
Inflation doubles in September.
The news was expected—and the figure remains within the Riksbank’s target range.
However, an interest rate hike as early as this year is highly likely, according to Susanne Spector, Chief Economist at Danske Bank.
Inflation is rising sharply to 1.5 percent, according to figures from Statistics Sweden (SCB).
Measured by the CPIF index, inflation doubled between August and September, in line with prior expectations.
"Preliminary figures show that the inflation rate—according to both CPI and CPIF—rose in September, primarily due to rising energy prices," says Carl Holmberg, a price statistician at SCB, in a comment to TT.
The Riksbank’s target is two percent.
Excluding energy prices, inflation is slightly lower than experts had anticipated.
According to Susanne Spector, Chief Economist at Danske Bank, Wednesday’s figures mean the Riksbank must raise the key interest rate in November.
"It would have been reasonable to raise rates in September, which would have kept them better aligned. That likely would have helped the krona, meaning the impact of higher energy prices—in terms of cost in kronor—would have been less severe than it is now," she tells TT.
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