Sweden’s underlying inflation edged higher in May, with the CPIF excluding energy increasing to 0.50% year-over-year, up from 0.00% in April 2026. The data, updated on 11 June 2026, indicate a modest reacceleration in core price pressures when measured against the same month a year earlier.
The CPIF ex energy measure strips out volatile energy components, offering a clearer view of underlying inflation trends. The latest reading suggests that, while overall price growth remains subdued, core inflation is no longer flat on an annual basis, potentially signaling a gradual firming in domestic price dynamics compared with May 2025.
The comparison framework shows that April’s zero reading reflected no change in prices versus April a year earlier, whereas May’s 0.50% figure marks a slight increase relative to May of the previous year. Market participants and policymakers will be closely watching whether this uptick develops into a sustained trend in Sweden’s core inflation profile.
