HICP in Sweden

Sweden's Harmonised Index of Consumer Prices (HICP): measures inflation using Eurostat's common methodology to allow comparison across the EU. It is published by Statistics Sweden (SCB).

It is compiled from a basket of goods and services weighted by household spending, using the harmonised COICOP classification and a common base year. It is reported as an annual (YoY) and monthly (MoM) rate of change.

Sweden is outside the euro, so inflation is a key reference for the Riksbank when setting rates, though the central bank tracks its own national measure (CPIF) closely. A hot print tends to support the Swedish krona and expectations of higher rates.

Being harmonised, it can differ from Sweden's national CPI and from the CPIF measure the Riksbank targets. For the underlying trend, watch core inflation excluding energy and unprocessed food.