Swedish Inflation Rises in January

The annual inflation rate in Sweden rose to 0.4% in January 2026 from 0.3% in the previous month, according to preliminary estimates. The latest figure came in below market expectations of 0.6% but marked the highest reading since October. On a monthly basis, consumer prices edged up by 0.1% in January, after showing no growth in December. Meanwhile, the CPI with a fixed interest rate (CPIF), the Riskbank’s target measure, increased by 2% year-on-year in January, slightly easing from a 2.1% rise in the previous month and falling short of market forecasts of a 2.1% gain.

Sweden’s annual inflation rate stood at 0.3% in December 2025, unchanged from November, confirming initial estimates and remaining at its lowest since May. Downward pressure came from continued deflation in housing and utilities (-2.62% vs -3.07% in November), furnishings and household goods (-3.36% vs -1.42%), transport (-2.16% vs -0.05%), and communication (-0.15% vs -0.59%). Prices also fell for clothing and footwear (-0.49% vs 0.56%), while inflation eased for health (2.91% vs 3.10%) and restaurants and hotels (3.63% vs 3.78%). Meanwhile, inflation picked up for food and non-alcoholic beverages (3.72% vs 3.09%), alcoholic beverages and tobacco (2.38% vs 2.10%), and miscellaneous goods and services (4.20% vs 4.09%), while costs rebounded for recreation and culture (1.34% vs -0.55%). Monthly, consumer prices were flat after a 0.4% drop in November. The CPIF, the Riksbank’s target measure, increased 2.1% annually and 0.1% monthly.

Sweden’s annual inflation rate stood at 0.3% in December 2025, unchanged from the previous month, according to preliminary estimates. It remained the lowest reading since May and came in below market expectations of 0.5%. On a monthly basis, consumer prices were flat after falling by 0.4% in November. Meanwhile, the CPI with a fixed interest rate (CPIF), the Riksbank’s target measure, increased by 2.1% year-on-year in December, slightly slowing from a 2.3% rise in the previous month and falling short of market forecasts of 2.5%.