Annual inflation at 3.0% in November

The latest data of the Central Statistics Office show that in November 2018, compared to November 2017, the average level of consumer prices rose by 3.0%. Prices of both goods and services grew by 3.0%.

Compared to 2015, in November 2018 consumer prices were 6.8 % higher. Prices of goods increased by 5.9% and prices of services by 9.1%.

Monthly inflation at -0.1%

Compared to October, in November 2018 the average level of consumer prices decreased by 0.1 %. Prices of goods did not change, while prices of services fell by 0.3 %.

The greatest pressure on the consumer price changes was put by the drop in prices of recreation and culture group, clothing and footwear, goods and services related to transport, goods and services related to housing, as well as increase in prices in miscellaneous goods and services group.

Commenting on the figures, Swedbank said: "The average annual inflation in 11 months of 2018 has been 2.5% which is largely in line with our forecast for this year (2.6%). Next year we expect a similar average annual inflation rate – a moderate 2.7%."

Economy
Economy