Sweden Inflation Rises Less Than Expected in September

The annual inflation rate in Sweden eased to 0.9% in October 2026 from 1.1% in September, which was the highest reading since February 2025, according to preliminary estimates. The latest result also came below market expectations of 1.2%. On a monthly basis, consumer prices were unchanged from September, missing forecasts for a 0.3% gain and following a 0.9% increase in the preceding period. Meanwhile, the CPI with a fixed interest rate (CPIF), the Riksbank’s target measure, rose by 1.1% year-on-year, slowing from a four-month high of 1.5% gain in the previous month, while its monthly reading remained flat. Core inflation, measured by CPIF excluding energy, eased more sharply to 0.1% from 0.5% in September, its lowest level in six months and falling short of estimates of 0.6%, while prices fell 0.2% month-on-month. The preliminary figures point to subdued price pressures ahead of the final CPI release scheduled for November 12.

Sweden’s annual inflation rate rose to 1.1% in September 2026, slightly below the initial estimate of 1.2% but sharply up from 0.3% in August, marking its highest level since February 2025. The acceleration was driven mainly by higher energy prices, with fuel and electricity costs increasing by 20% and 17%, respectively. This pushed inflation in housing and utilities to 4.8% from 2.6% in August, partly reflecting higher rents and maintenance costs. Price growth also accelerated for transport (3.4% vs 1.7%) and information and communication (2.2% vs 1.8%). In contrast, food and non-alcoholic beverage prices continued to fall by 6.6%, while prices also declined for health (-5.9% vs -6.2%) and education services (-15.6% vs -15.5%). On a monthly basis, consumer prices increased by 0.9%, matching estimates and rebounding from a 0.3% decline in August. Meanwhile, the CPIF, which excludes the effect of changes in mortgage interest rates, rose to 1.5% from 0.7% in August.

Annual inflation in Sweden rose to 1.1% in September 2026 from 0.3% in August, preliminary data showed, but was below market expectations of 1.3%. The latest reading was the highest since February 2025, driven mainly by higher energy prices amid continued disruptions to Middle East supply. On a monthly basis, consumer prices increased by 0.9%, rebounding from a 0.3% fall in August. Meanwhile, the CPI with a fixed interest rate (CPIF), the Riksbank’s target measure, rose by 1.5% from a year earlier in September, accelerating from a 0.7% increase in the previous month and marking the highest level since May, but falling short of the estimated 1.6%.