Swedish consumer price index decreased by 0.8 % from December to January. Decreasing prices between December and January accounted for 0.3 percentage points whereas CPI basket changes accounted for as much as 0.5 percentage points at the turn of the year 2007/2008.
The composition of the CPI basket is revised annually. The inflation rate decreased to 3.2% in January from 3.5 % in December. The larger CPI basket revision effect this year contributed down by 0.2 - 0.3 percentage points in January.
Seasonally normal price decreases for clothing and footwear (-15.1%) contributed downwards by 0.8 percentage points respectively to the December-January change.
The underlying inflation, CPIX, was 2.1 % in January. Like the CPI the CPIX is also affected by the change in the composition of the basket.
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