Sweden’s annual inflation rate climbed to 1.1% in September 2026, slightly below the flash estimate of 1.2% but up sharply from 0.3% in August, reaching its highest level since February 2025. The acceleration was driven primarily by rising energy costs: fuel prices rose by 20% and electricity by 17%. This, in turn, pushed inflation in housing and utilities to 4.8%, compared with 2.6% in August, reflecting not only higher energy prices but also increased rents and maintenance costs.
Price growth also quickened in the transport sector (3.4% vs. 1.7% in August) and in information and communication services (2.2% vs. 1.8%). By contrast, food and non-alcoholic beverages continued to become cheaper, with prices falling 6.6% year-on-year. Prices also declined, though at a slightly slower pace, in health (-5.9% vs. -6.2%) and education services (-15.6% vs. -15.5%).
On a monthly basis, consumer prices rose 0.9%, in line with expectations and reversing a 0.3% decline in August. Meanwhile, the CPIF—Sweden’s consumer price index with a fixed interest rate, which excludes the direct impact of changes in mortgage interest costs—rose to 1.5% in September from 0.7% in August.
