Household consumption in Sweden saw a 1.2 percent growth in April 2023 compared to March 2023, according to seasonally adjusted figures. In calendar-adjusted terms and fixed prices, household consumption remained unchanged compared to April 2022. However, over the past three months, consumption decreased by 1.5 percent in fixed prices and calendar-adjusted figures, compared to the same period the previous year.
The industry group that positively influenced household consumption was primarily Transportation and Retail Sale of Motor Vehicles and Vehicle Services, which saw a 2.7 percent increase in fixed prices compared to the same period the previous year.
The industry group that negatively affected household consumption was mainly General Retail Trade, including Food and Beverages, which experienced a 6.1 percent decrease in fixed prices compared to the same period the previous year.
The data for April 2023 is preliminary. Since the last publication, household consumption in March 2023 compared to February 2023 (seasonally adjusted) has been revised up by 0.9 percentage points to a decline of 0.2 percent. Consumption in March 2023 compared to the same month the previous year (calendar-adjusted) has been revised up by 1.1 percentage points to a decline of 2.9 percent.
Considerations: Given the current situation of price increases, consumers may alter their consumption patterns and refrain from purchasing goods that have experienced price hikes, opting for more affordable products instead. As a result, there is a slight risk of underestimating the fixed price index figures in the household consumption statistics. This may particularly apply to the General Retail Trade, including Food and Beverages industry group, but it could also apply to other industry groups.