Inflationary pressures in Sweden remain too high, Sveriges Riksbank deputy governor Martin Flodén said in a speech today (October 19).

Last month, the consumer price index with fixed interest rate (CPIF) increased year on year by 4%, down from 4.7% in August. The central bank’s target is 2%.

Nonetheless, “the rapid decline is largely driven by energy prices being considerably lower than last year”, Flodén pointed out. “When energy prices are excluded, inflation was 6.9% in September.”

At its