In the first month of 2023, energy prices dipped by 27.4 percent, meaning inflation according to the CPI – total inflation including energy prices and interest rate changes – fell by 1.1 percent to 11.7 percent.
Despite falling energy prices putting the brakes on inflation as a whole last month, the price of food and alcohol-free drinks continued to rise in January, Statistics Sweden reports.
However, when energy prices are taken away, inflation actually went up last month.
“The rate of inflation was affected by a broad price increase on food and alcohol-free drinks, where the biggest contributors were milk, cheese and eggs,” Statistics Sweden said in a press statement.
Food prices went up by almost 2 percent in January when compared with December. Over the whole of the past year prices have increased by just over 20 percent on average.
In the last month, the food groups which have seen the largest increase in price include fish, oils and fats, sweets and ice cream as well as coffee, tea and cocoa. These groups saw an increase of over 4 percent.
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