A Consumer Price Index for Sweden 1290-2006 By Rodney Edvinsson
and Johan Söderberg
This section contains historical price series for Sweden. A Consumer Price Index (CPI) is presented for the whole period 1290-2006. The index makes it possible to estimate the inflation rate during various periods and to compare the price level in one year with the price level in an earlier year. The index is linked up with the present Consumer Price Index published by Statistics Sweden.
For the construction of a consumer price index the general rule should be to follow the currency that were most frequently used in retail trade, or at least transactions when smaller amounts of consumer products were bought. The following currencies are followed for different periods:
Mark for the period 1290-1624
Daler kopparmynt for the period 1624-1776
Specie riksdaler for the period 1776-1789
Riksdaler riksgälds for the period 1789-1855
Riksdaler riksmynt for the period 1855-1873
Krona for the period 1873 onwards.
These currencies are the basis for the construction of CPI 1. However, a CPI 2 is also constructed to take into consideration times of very high inflation, when inflation money was circulated, which later were replaced by a more stable currency. This occurred in four periods: 1521-1524, 1561-1576, 1590-1593 and 1715-1719. At the end of these inflation periods, the inflation coins could be exchanged for the new coins, but at a much lower rate than was nominally assigned to the inflation coins. CPI 2 takes into account that the inflation coins were devalued by 1/3 in 1524, by 11/13 in 1576, by 75 percent in1593 and by 50 percent in 1719, while CPI 1 does not. When prices were expressed in proper coins, they have been transformed to prices in inflation coins by using the exchange rate between the inflation coins and proper coins.
List of variables and their definitions:
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