EFTA Document EFTA01387019

softer prices for package holidays (Figure 4). This suggests that the recent increase in services inflation is broad, durable and driven by strong domestic growth. Importantly, a day after I ngves' comment, the services PMI for September came in exceptionally strong at 63.8. We thus expect strong details in this week's inflation print for September to justify a re-assessment of services inflation as being persistently stronger than previously forecast. To sum up, we remain long SEK against