The inflation rate according to the CPIF measure amounted to 7.2 per cent in May.

This is an increase from April when the inflation rate landed at 6.4 percent.

The monthly change from April to May was 1.0 percent, according to Statistics Sweden (Statistics Sweden).

The inflation rate refers to the change in consumer prices on an annual basis, ie in comparison with the corresponding month last year.

By monthly change is meant just as it sounds the price change between two months.

In the CPIF, which is used to measure the Riksbank's inflation target, the effects of changes in mortgage rates are excluded.

The text is updated.

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See Arturo Arques, private economist at Swedbank, go through the calculations for how three different Swedish households are affected by rising inflation.

Photo: SVT