Swedish Producer Inflation Hits Highest Since 2023

Producer prices in Sweden increased 6.6% year-on-year in May 2026, accelerating from a 4.7% rise in the previous month. It was the third consecutive month of increases and the sharpest rise since February 2023, largely driven by persistently higher energy costs (32.7% vs 27.0% in April). Prices also rose at a faster pace for capital goods (1.4% vs 0.6%) and intermediate goods (6.0% vs 4.1%), while the decline in consumer goods prices moderated (-2.7% vs -3.2%). Excluding energy-related products, producer prices rose 2.7%, accelerating from a 1.4% increase in the previous month. On a monthly basis, producer prices increased 1.3% in May, following a 1.1% gain in April and marking the fastest monthly increase in four months. Meanwhile, domestic prices advanced by 7.8%, after rising 5.5% in April. "The main driver behind the price increase in the domestic market in May came from higher prices for trade services for electricity", said Maria Bäckström, statistician at Statistics Sweden.

Producer prices in Sweden climbed by 4.7% year-on-year in April 2026, accelerating from a 2% rise in the previous month. This marked the second consecutive month of increase and the sharpest since February 2023, largely driven by persistently higher energy costs (27% vs 15.8% in March). Prices also rose at a faster rate for intermediate goods (4.1% vs 0.7%), while capital goods costs rebounded (0.6% vs -0.5%). Meanwhile, producer deflation deepened for consumer goods (-3.2% vs -2.4%), as prices declined further for non-durable goods (-3.9% vs -3.2%), while inflation eased for durable goods (2.4% vs 2.9%). Excluding energy-related products, producer prices rose by 1.4%, rebounding from a 0.5% fall in the prior month. On a monthly basis, producer prices went up by 1.1% in April, following a 0.6% gain in March. Domestic prices increased by 7.3%, mainly due to increases in refined petroleum and chemical products, while import costs climbed by 9%, driven by higher prices for crude oil.

Producer prices in Sweden rose by 2% year-on-year in March 2026, rebounding from a 1.7% decline in the previous month. This marked the first month of increase in five months and the sharpest since February 2025, largely driven by a 15.8% surge (vs 3.5% in February) in energy prices. Costs also increased for intermediate goods (0.7% vs -2.7%), while producer deflation softened for capital goods (-0.5% vs -2.7%) and consumer goods (-2.4% vs -3.6%). Within consumer goods, costs rose for durable goods (2.9% vs 0.8%), while it fell at a slower pace for non-durable goods (-3.2% vs -4.2%). Excluding energy-related products, producer prices fell by 0.5%, easing from a 3% drop in the prior month. On a monthly basis, producer prices went up by 0.6% in March, following a 0.2% gain in the preceding period. Domestic prices increased by 3.7%, driven by higher costs for refined petroleum products and fabricated metal products, while import prices rose by 3.7%, mainly due to increases in crude oil.